Fed’s Bullard says April inflation is high, but doesn’t see 75bp hike «for now»

(Reuters) – April inflation data was elevated but does not yet require the Federal Reserve to switch to three-quarter percentage point rate hikes, St. Louis Fed President James Bullard said on Wednesday.

The Fed’s plans for half-point hikes are «a good benchmark for now,» Bullard told Yahoo Finance.

Big raises «are not my base case … I think we have a good plan,» Bullard said.

(Reporting by Howard Schneider, Editing in Spanish by Manuel Farías)