Comments from Bullard on MNI: • Warns that wealth-to-income ratio back to pre-crisis peaks • Backs gradual rate hike path now but fears financial instability • Need to be ready to hike rates faster against bubbles • Wages lagging indicator; should not delay rate hikes • Inflation will rise more as the economy grows and oil stabilizes Bullard is a hawk so these comments shouldn't be a surprise. But the thing about Bullard is that if the S&P 500 fell 60 points between now and the September meeting, he'd be the first one to argue for keeping rates at zero. He doesn't have a vote on the FOMC this year, for what it's ... (full story)