Now that the U.S. economy shows tentative signs of recovery, James Bullard, president of the Federal Reserve Bank of St. Louis, wants the Fed to adopt a plan for taming the inflation he expects may follow the end of the recession. Unless the central bank puts a strategy in place and presents it to the public, inflation expectations may run rampant, Bullard says.
He’s pessimistic such a plan will be forthcoming. “Ithink I’m an army of one on that,” Bullard said in an interview after a speech in Philadelphia on June 30.
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