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High inflation means Fed must think bigger, faster -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: James Bullard (St. Louis Federal Reserve Bank) speaks to the public at an event in Singapore, October 8, 2018. REUTERS/Edgar Su/File Photo

By Ann Saphir

(Reuters). James Bullard of St. Louis Federal Reserve Bank stated Wednesday that U.S. policymakers should think larger and take action faster to raise interest rates. He said this because inflation is currently “way above” what it should be.

Bullard said that the Fed’s recent acceleration of inflation has forced him and his colleagues to “think more about the speed they have to go to control inflation,” referring to their fellow policymakers at the Mid-Size Bank Coalition of America. According to Bullard, he anticipates that inflation will rise more this spring. However, it can be managed by the end of next year.

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