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US companies have no problem raising prices By Reuters

© Reuters. FILE PHOTO: Federal Reserve Bank of St. Louis President James Bullard speaks at a public conference in Singapore on October 8, 2018. REUTERS / Edgar Su

(Reuters) – US companies have little trouble raising prices to customers for the first time in years, Federal Reserve Bank of St. Louis Chairman James Bullard said on Monday, warning that inflation could remain high. for some time amid rising fears. expectations take hold.

Bullard’s business contacts in his Fed district and across the country “often say ‘don’t worry, my business is going to be profitable because I’m going to raise prices and we haven’t had a hard time raising prices in this environment.'” Bullard said during an event held by the International Economic Forum of the Americas.

Bullard is among the staunchest advocates at the US central bank for aggressive measures to combat higher-than-expected inflation, and sees that two interest rate hikes are needed in 2022. Interest rates remain close. from scratch today, where they have been since the start of COVID. -19 pandemic in early 2020.

“I’m concerned about the mindset shift, I’d say around pricing in the economy and the relative freedom that companies feel they can easily pass the higher costs on to their customers. For years, that hasn’t been the case,” added Bullard .

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