St.Louis Fed President Bullard said the Federal Reserve will likely have to keep its benchmark interest rate above 5% for most of 2023

Any chance of that happening?

It's crazy to think that a 5% rate would held throughout 2023. Not to mention the market would crash hard if there was no chance of pivot next year..

Bullard:“I think we’ll have to stay there all during 2023 and into 2024,” Bullard told MarketWatch’s economics editor Greg Robb. Bullard was responding to a question about how long he expects the Fed funds rate will need to remain in the 5% to 7% range.

Bullard added that it seems markets are still underestimating the degree to which the Fed will need to keep policy tight in order to rein in inflation, explaining that there is still some expectation that inflation might subside on its own.