Fed's Bullard: Better to start hikes “sooner rather than later”, QT should begin “shortly after”

St Louis Fed President and FOMC voting member in 2022 James Bullard said on Thursday that he was among those who projected that the Fed would hike interest rates three time in 2022. Moreover, he added, it is better to get started with rates hikes "sooner rather than later" and the pace of rate hikes can be moderated later if inflation slows. The balance sheet run-off (or quantitative tightening or QT) should begin "shortly after" the initial interest rate rise, he added.