Fed’s Bullard: Our Rate-Hike Plan ‘Overly Aggressive’ for Weak Economy

The Fed’s expected plans for rate increases may be too fast for an economy that has shown recent signs of weakness, St. Louis Federal Reserve President James Bullard said on Friday, making the case for a continued go-slow approach as inflation progress stalls.

A recent dip in inflation and inflation expectations means the Fed may not make as much progress as expected toward its inflation target, and at a time when risks are increasing that political gridlock in Washington will continue.

Expectations that tax, regulatory and other changes may boost growth have buoyed business confidence and markets since the start of the year, but are looking less likely as the Trump administration faces continued controversy.

Bullard said that recent events in Washington, on their own, have not changed his expectations for an economy anticipated to slog along at a 2 percent annual growth rate. But they have coincided with weaker

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