Fed’s Bullard Raises Target for Year-End Funds Rate

Federal Reserve Bank of St. Louis President James Bullard said Friday that unexpectedly high inflation calls for a more aggressive path of short-term interest rate rises this year.

Inflation “has come in broader and hotter than previously had been expected,” Mr. Bullard said in a virtual appearance before the European Economics & Financial Centre. The Fed “has to react and the way we can react is charting out a course that’s somewhat more aggressive over the second half of this year,” he said.