Fed's Bullard: Data, markets don't support aggressive Fed

Federal Reserve Bank of St. Louis President James Bullard crossed the wires, via Reuters, arguing that the drop in long-term yields and inflation expectations after March rate hike suggests Fed may be moving too fast for economic conditions.

Key quotes (via Reuters):

  • Data weak since last FOMC meeting, with lower-than-expected inflation and slowing job growth
  • No indication yet that low unemployment raising risk of faster than desired inflation