Inflation a Big Concern for Fed, St. Louis Chief Says

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MADISON, Wis. - The Federal Reserve Board is done cutting interest rates for at least a while, but don't look for higher rates at least until this fall, the president of the Federal Reserve Bank of St. Louis said Friday.

Speaking at a conference on housing at the University of Wisconsin-Madison, James Bullard said the aggressive rate-cutting by the Fed since last August has stabilized the economy and that inflation is now becoming a larger concern.

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Inflation a Big Concern for Fed, St. Louis Chief Says

"The Fed has created a low-interest-rate environment that should allow the economy to continue to adjust to the drag from the housing sect...

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