MNI BRIEF: Fed's Bullard Says Inflation Readings 'Concerning'

St. Louis Fed President James Bullard said Thursday he's worried about recent high inflation readings and is not completely confident the spike will be transitory.

"This is concerning. While I do think there's a probability that inflation will dissipate naturally over the next six months, I wouldn't say that's such a strong case that we can count on that happening," Bullard said during a policy conference.

Bullard added he wants to taper QE more quickly than his colleagues so the Fed has room to potentially tighten monetary policy in 2022, as Bullard has indicated may be needed. "I'd actually like to be done (tapering) at the end of the first quarter of next year."