Reuters
Fed, split over opening rate bid, may put weight on February data
WASHINGTON (Reuters) -U.S. Federal Reserve officials continued sparring over how aggressively to begin upcoming interest rate increases at their March meeting, with a final inflation reading just ahead of the two-day session taking on potentially outsized importance. St. Louis Federal Reserve President James Bullard on Monday reiterated calls for a faster pace of Fed interest rate hikes, saying that four strong inflation reports in a row warranted more aggressive action and that the central bank needed to “ratify” market expectations about its upcoming moves. Bullard, who himself helped shape those expectations with calls last week for a 50 basis point increase at the Fed’s March meeting, said on CNBC that the Fed’s “credibility is on the line” in its quest to bring inflation down from the current 40-year high of more than 7%.
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