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

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

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

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

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

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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

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