Fed's Bullard: Fed has delayed too long on trimming balance sheet

James Bullard, President of the Federal Reserve Bank of St. Louis, crossed the wires, via Reuters, suggesting that the Fed has delayed too long on trimming its balance sheet.

Key quotes:

• Current Fed funds rate 'reasonable,' but would not oppose one more hike this year
• Fed has delayed too long on trimming balance sheet
• Fed needs to start trimming balance sheet in second half of 2017