James Bullard, president of the Federal Reserve Bank of St. Louis, said it was too early to predict whether the central bank would increase interest rates
75 basis points at each of its upcoming two meetings in November and December.
Last month, the Fed raised interest rates by 75 basis points for the third consecutive meeting, bringing the target range down to 3% to 3.25%.
According to officials, interest rates will tighten by 125 basis points over the course of the rest of the year, moving by 75 basis points in November and 50 basis points in December.
Their median projection was that 2023 would see another 25 basis points of tightening.
It will look very fantastic if that dynamic materialises, he said, and we'll be able to essentially maintain our current position while the inflation rate declines.