NEW YORK (Reuters) - A top Federal Reserve official brushed off soft inflation data on Thursday, saying the core reading in the U.S. consumer price report should give some confidence to the U.S. central bank.
“The core being a little hotter than expected I think will bolster confidence a little bit, that inflation is going to go back toward target,” St. Louis Fed President James Bullard said on CNBC. “I think this is probably just a tiny bit of confidence comes out of this report. But it’s just one number.”
Reporting by Jonathan Spicer; Editing by Chizu Nomiyama