Federal Reserve Bank of St Louis president James Bullard is concerned about the Fed missing its inflation target to the downside.
Striking a dovish tone, Bullard sees the Fed’s current target rate as “a little bit restrictive”. He also said the current US macroeconomic data provides an opportunity to bring inflation back to target.
“I am concerned that we may have slightly overdone it with our December rate hike,” he said in an interview with Bloomberg on May 22. “But I was pleased that the