More from Bullard

  • Let's maintain the 2% inflation target and hit it
  • Fed has a good balance sheet plan, no need to mess with it
  • US Treasury yields are quite a bit higher than others
  • Global rates climate is important factor for the Fed

PCE inflation is running at 1.6% and the Fed has missed the 2% objective for seven years in a row.

The comments about global rates are notable but there's nothing particularly new there. If anything, US rates are tighter after the past few weeks.