Fed’s Bullard: need to see upside surprises to support further hikes

St. Louis Federal Reserve President James Bullard comments on U.S. interest rates during an interview with Bloomberg's Kathleen Hays on "Bloomberg Markets." (Source: Bloomberg).

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“If we start going up from here we are going to get into restrictive territory,” Bullard said in a Bloomberg Television interview. “Do we really want to do that when inflation expectations are already hovering below our target for the next five years?”

Most Fed members and Bullard's colleagues believe at least two more rates hikes are appropriate for the rest of 2018 with the unemployment rate now at 3.9 percent while inflation is edging up toward the Fed’s 2-percent target.

About James Bullard

James Bullard is the President of the Federal Reserve Bank of St. Louis. Dr. Bullard took office on April 1, 2008, as the twelfth chief executive of the Eighth District Federal Reserve Bank, at St. Louis. He is currently serving a full term that began March 1, 2011. In 2013, he serves as a voting member of the Federal Open Market Committee.

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