No need for aggressive rate hikes to keep inflation in check - Fed's Bullard

St.Louis Fed President Bullard gave a speech on the economy and monetary policy at the Economic Club of Memphis with key quotes found below (via Reuters):

• Would be ok for the Fed to hike once more in 2017
• The first step in fresh recession would be a rate cut, then would have to decide on further bond buying
• Soft data points to 4% growth, hard data 2%, better to rely on hard data