Former Federal Reserve Bank of St. Louis President James Bullard said a pickup in economic activity this summer could delay plans for the Fed to wrap up interest-rate increases.
“This reacceleration could put upward pressure on inflation, stem the disinflation that we’re seeing and instead delay plans for the Fed to change policy,” Bullard said Thursday during an interview with Bloomberg Television ahead of the Kansas City Fed’s annual economic policy symposium in Jackson Hole, Wyoming.
The former St. Louis Fed chief said if progress on inflation stalls, or if price pressures strengthen, “that would suggest a higher rate profile for the Fed than otherwise.”
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