In an interview with Yahoo Finance, St. Louis Fed President James Bullard noted he expects to see more inflation but added that it will mostly be temporary, as reported by Reuters.
Additional takeaways
"Expecting above 2% inflation this year and next."
"There will come a time when we can talk more about changing monetary policy but it's not the time while we are still in a pandemic."
"When you are in a crisis, need to exit it before thinking about changing policy."
"Will get there in months ahead and can start thinking about altering Fed's asset purchases."
"Anecdotal evidence is overwhelming: this is a tight labor market."
"Instability risks are higher than normal but not at an alarming level."
Market reaction
These comments were largely ignored by market participants and the US Dollar Index was last seen losing 0.17% on the day at 89.87.