Federal Reserve Bank of St. Louis President James Bullard presented “The Prospects for Disinflation in 2023” (PDF) on Thursday at an event hosted by CFA Society St. Louis. Bullard noted that GDP growth appears to have improved in the second half of 2022 and the labor market performance remains strong. Inflation remains too high but has declined recently, he added. While the policy rate is not yet in a zone that may be considered sufficiently restrictive, it is getting closer, Bullard said. In addition, front-loaded Fed policy has helped market-based measures of inflation expectations return to relatively low levels, ... (full story)