Fed’s Bullard sees more interest rate hikes ahead and no U.S. recession

St. Louis Federal Reserve President James Bullard said Wednesday that the central bank will continue raising rates until it sees compelling evidence that inflation is falling.

The central bank official said he expects another 1.5 percentage points or so in interest rate increases this year as the Fed continues to battle the highest inflation levels since the early 1980s.

“I think we’ll probably have to be higher for longer in order to get the…