Maybe it's time to start pricing in rate hikes in 2026. Here are some comments from Bullock:
- Inflation has surprised on the upside
- Output gap has probably closed, but it is uncertain
- We are likely already at the potential growth limit
- Labour market still a bit tight
These are some of the most-hawkish central bank comments you will hear anywhere, with the exception of Japan, which could hike this month.
