No 'undue' inflation pressures building - FOMC's J.Bullard

At his speech today, San Louis Fed James Bullard (2019 voter, neutral) said:

There are no 'undue' inflation pressures.

The Fed may be in better spot to allow reinvestment to end.

Interest rates should remain low this year, may be in better position to shrink balance sheet.

Conditions for much higher inflation are not materializing.

Low-real-rate regime is a global phenomenon.

US economy unlikely to overheat this year.