Fed's Bullard said the Fed is confident of defeating inflation, and he advocated accelerating the pace of fighting inflation. Bullard said that more aggressive rate hikes now will give the FOMC a better chance to reduce inflation. Although current inflation has dropped from the dangerous level in 2022, it is still high. "It's popular to say, let's slow down and feel where the interest rate path is going. We haven't reached the so-called terminal interest rate yet. When we reach that level, if inflation continues to fall, everything is fine. But the risk we face now is that inflation does not fall, but re-accelerates, and then what should we do? We will have to respond. If inflation does not start to fall, the Fed will repeat the mistakes of the 1970s... No one wants to be in that situation. We have to be more decisive now, let's control inflation in 2023."