Economics
Fed’s Bullard Urges More Hawkish Policy to Offset Inflation Rise
- FOMC has retained optionality on speeding up taper process
- U.S. prices rose at fastest annual pace since 1990 in October
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Federal Reserve Bank of St. Louis President James Bullard said the central bank should speed up its reduction of monetary stimulus in response to a surge in U.S. inflation.
“I think it behooves the committee to go in a more hawkish direction in the next couple of meetings so we are managing the risk of inflation appropriately,” Bullard, who votes on monetary policy in 2022, said in a Bloomberg Television interview with Michael McKee, Lisa Abramowicz and Tom Keene on Tuesday.