Data May Bias Fed Toward More Rate Hikes, Ex-st. Louis Fed Chief Says

Data showing higher inflation and a stronger labor market may bias the Federal Reserve toward more interest rate hikes than currently expected

Former St. Louis Fed President James Bullard said the Fed may need to raise rates more than three times next year

Bullard also said the Fed should start reducing its bond purchases in October and end them by March

The Fed has said it will start reducing its bond purchases later this year but has not given a specific timeline

Bullard's comments come ahead of the Fed's policy meeting next week, where it is expected to provide more guidance on its plans for tapering its bond purchases