Bullard Says Fed Surprised by Inflation on Downside

The transcript discusses the current economic situation, focusing on interest rates, unemployment, and inflation. Initially, there was a possibility of another rate hike, but low unemployment hasn't led to higher inflation as expected. The Federal Reserve is surprised by the lower-than-expected inflation, leading to a reevaluation of their policies. The discussion highlights the importance of data dependency in making future economic decisions, with predictions indicating core inflation will remain below target by the year's end.

What is the current stance on interest rates according to the transcript?

• Interest rates are expected to remain the same.

• Interest rates are not mentioned in the transcript.

• Interest rates are expected to decrease.

• Interest rates are expected to increase significantly.

What was the surprising economic trend observed in the spring?

• A significant decrease in inflation.

• A significant increase in inflation.

• A stable inflation rate.

• An unpredictable inflation rate.

How did the inflation trend in 2017 compare to previous years?

• Inflation decreased slightly.

• Inflation progress was undone.

• Inflation remained stable.

• Inflation increased steadily.

What is the predicted core inflation rate by the end of the year?

• 3.0%

• 2.0%

• 1.6%

• 1.0%

What is the speaker's outlook on inflation by the end of the year?

• Optimistic about higher inflation.

• Pessimistic about higher inflation.

• Certain about inflation reaching target.

• Neutral about inflation changes.