Fed’s Bullard: Rise in 10-yr rates partially driven by rising inflation expectations

Responding to the audience questions at the NABE’s Economic Policy Conference in Washington, St. Louis Fed President James Bullard said:

   •  Rise in 10-year rates partially driven by rise in inflation expectations among investors
   •  Says he's skeptical 10-year yields will break out from here
   •  Inflation expectations have moved up some
   •  Best practice is to review inflation framework regularly
   •  Hopefully Fed conducts framework review
   •  Proponents of changing framework would have to prove it would add benefits