The St. Louis Federal Reserve president said he’d ‘stand pat’ on rates through 2018.
The Federal Reserve received some words of caution from within its own ranks on Friday, when the president of the St. Louis Federal Reserve recommended against the multiple rate hikes widely anticipated for later this year.
“If it was just me, I'd stand pat where we are and I'd try to react to data as it comes in,” Bullard said in an interview with CNBC.
The Fed has increased rates regularly since December 2015 in an effort to stave off inflation, which Bullard says there is little threat of in the short term.
"I just don't see much inflation pressure,” he said. “I'm an inflation hawk, but I just don't see that developing. ... I just don't think this is a situation where we have to be pre-emptive.”
Analysts are predicting rate increases in September and December of 2018.
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