tweet at 2:45pm: FED'S BULLARD: IT'S TOO EARLY TO SAY IF WE'VE SEEN A PEAK IN INFLATION; WILL NEED MORE THAN A FEW TENTHS TO MAKE A JUDGMENT. tweet at 2:46pm: FED'S BULLARD: SOMETIMES RELATIVELY STABLE LONGER-TERM INFLATION EXPECTATIONS ARE TAKEN AS A SIGN THAT THE FED DOESN'T HAVE TO DO AS MUCH; I DON'T TAKE THEM THAT WAY. tweet at 2:46pm: FED'S BULLARD: I WOULD PUT NEUTRAL AT ABOUT 2%, BUT WILL NEED TO GO ABOVE THAT TO BRING DOWN INFLATION.Bullard: Pace of 50 bps per meeting is a 'good plan' for now A good chunk of inflation is persistent and will require concerted action • I would put neutral at about 2% but will need to go above that to bring down inflation • Rise in 1-to-3 year inflation expectations is concerning • I don't take relatively stable long-term inflation expectations as a sign the Fed doesn't have to do much • It's too early to say if we've seen a peak in inflation, will need more than a few tenths to make a judgement