(Reuters] – The current high level of inflation might not go away as fast as the U.S. Federal Reserve policymakers think, St. Louis Fed President James Bullard indicated on Thursday. Bullard urged his central bank to speed up its bond-buying program and urged it again.

Bullard said that “I believe this is concerning” to a virtual Euro50 Group gathering about inflation. While I believe there’s a chance that inflation will decrease over the next six month, it’s not likely that that is true. Bullard said that the probability of this happening is 50%.

On Wednesday, the Fed indicated that it may reduce its crisis-era support to the U.S. economy in the middle November. This was due to growing inflation concerns. It also stated that a reduction in its bond-buying program would continue until the middle next year.

Bullard was a strong advocate for accelerating the Fed’s completion of its tapering of its bond buying program. This was done to stabilise financial markets and maintain low borrowing costs.

According to him, he wants to complete the taper in the first quarter 2022. This would enable the central bank to increase interest rates earlier than anticipated if inflation continues to be high.