(Reuters) – All signs point to rising inflation in the United States, St. Louis Federal Reserve Chairman James Bullard said on Wednesday. The money supply has “skyrocketed”, fiscal deficits are “off the charts” and a hot economy may already be here or “just around the corner,” Bullard said in an interview at the Reuters Next conference. Still, he said, the Fed needs to regain credibility on inflation after having exceeded the Fed’s 2% target over the past decade, and will not react preemptively to rising inflation by tightening policy.
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