Fed's Bullard Lifts 2023 Rate Forecast to 5.625%

James Bullard has raised the 2023 interest rate forecast to 5.625% due to expected stronger economic growth. This estimate is above the median of 5.1% and near the high end of official estimates. Bullard believes that the current financial and banking sector stress will ease and prove to be temporary, maintaining confidence in ongoing economic strength.

What is the medium estimate mentioned in the text?

What does Bullard assume about the financial stress and banking sector?

What is the forecasted peak interest rate mentioned by James Bullard?

How does James Bullard describe the current economic strength?

What does Bullard believe about the strains in the banking sector?