Article content

April inflation data were “hot” but do not yet require the Federal Reserve to switch to three-quarter point rate increases, St. Louis Fed president James Bullard said on Wednesday.

The Fed’s plans for half point increases are “a good benchmark for now,” Bullard said on Yahoo Finance. Large increases are “not my base case … I think we have a good plan in place,” Bullard said.

(Reporting by Howard Schneider Editing by Chris Reese)