Fed's Bullard: inflation expectations are beginning to firm up

St. Louis Fed head James Bullard spoke with media today, outlining his take on US inflation and growth rates looking forward.

Bullard stated that he expects global growth, which was strong for 2017, to moderate somewhat in 2018, while he noted that there is a lot of support from policy makers to review the Fed's inflation framework while the economy is not a crisis, while inflation expectations are being bolstered by rising oil prices. Bullard also cautioned that agricultural firms, especially those within his constituency, are concerned about the impact of trade tensions in food markets, especially soy, making a nod to the ongoing US-China trade spat that has so far seen little resolution.