Fed's Bullard: We have a serious inflation problem in US

St. Louis Federal Reserve Bank President James Bullard said on Tuesday that they have a serious inflation problem in the US, as reported by Reuters.

"The credibility of inflation targeting regime is at risk," Bullard added and argued that they must no recreate the volatile 1970s era. "The labor market is very strong, this gives us room to take care of inflation as soon as we can."

Market reaction

These comments were largely ignored by market participants and the US Dollar Index was last seen losing 0.3% on the day at 113.76.