Comments from Bullard on MNI:

  • Warns that wealth-to-income ratio back to pre-crisis peaks
  • Backs gradual rate hike path now but fears financial instability
  • Need to be ready to hike rates faster against bubbles
  • Wages lagging indicator; should not delay rate hikes
  • Inflation will rise more as the economy grows and oil stabilizes

Bullard is a hawk so these comments shouldn't be a surprise. But the thing about Bullard is that if the S&P 500 fell 60 points between now and the September meeting, he'd be the first one to argue for keeping rates at zero.

He doesn't have a vote on the FOMC this year, for what it's worth.