James Bullard, Interview: Asian Investment Conference

“So, are we moving fast enough? I actually dissented last week, and I said that I thought we should start moving sooner and faster. I would’ve liked to have gone 25 basis points. I’m sorry, 50 basis points at that meeting along with getting going on balance sheet runoff. I think that it’s not so much that we’re certainly moving in the right direction, but you have to move at a pace that makes sense for the situation. And right now, we’re putting upward pressure on inflation in a world where we have headline PC inflation, which is really our target. It’s really 6% right now. So we’re running 400 basis points over target. So I think we have to move faster to keep inflation under control.”