St. Louis Fed's president James Bullard stated on Wednesday that he still wants interest rates to get to 3.75-4.00% this year. He also added that he prefers to frontload rate increases.
According to Bullard, there are still some ways to go to get to a restrictive monetary policy.
The policymaker also noted that the Fed's policymakers are following data very carefully, and he thinks that they will "get it right".
In addition, Bullard acknowledged that the slowdown in the second quarter was more concerning than that in the first quarter, but added that he expects the GDP growth to be positive in the second half of the year.