Former St. Louis Fed President Bullard: Will accept Fed chair job if we aim for low and stable inflation

In an interview with CNBC on Tuesday, Former St. Louis Federal Reserve Bank President James Bullard said that he spoke with US Treasury Secretary Scott Bessent last week, per Reuters.

Bullard noted that he would accept the Fed Chair Job if they aim is for low and stable inflation.

""if we can protect the value of the Dollar, that'll give us lower interest rates over time," Bullard explained and added: "If we aim for low and stable inflation, and respect the independence of the institution under the Federal Reserve Act."

He also stated that anyone on the list to be the next Fed chair would insist on independence.

Market reaction

The US Dollar (USD) Index recovered slightly from session lows following these comments and was last seen losing 0.11% on the day at 98.38.

Aug 12, 2025

EUR/USD rebounds after mixed US CPI; Fed rate cut bets hold firm

The Euro (EUR) edges higher against the US Dollar (USD) on Tuesday, snapping a two-day losing streak after mixed US inflation data for July showed headline figures that matched expectations and came in slightly below forecasts on the annual measure, while core inflation surprised to the upside on bo

Fed’s Barkin: Balance between inflation and unemployment is unclear

Richmond Fed President Tom Barkin said on Tuesday that strong consumer spending might be cushioning the impact of tariffs on inflation, but he warned it could eventually give way to weaker demand and higher unemployment.