St Louis Fed's Bullard says Fed's rate 'a little tight'

FILE PHOTO: St. Louis Federal Reserve Bank President James Bullard speaks at a public lecture in Singapore October 8, 2018. REUTERS/Edgar Su/File Photo/File Photo

(Reuters) - St. Louis Federal Reserve President James Bullard on Friday said the Fed’s policy rate is “a little tight” and that current readings of inflation are uncomfortably low.

Bullard, one of the central bank’s biggest policy doves, also told CNBC that aside from soft inflation, the U.S. economy is performing very well, and gross domestic product growth this year could reach 2.5%.

Earlier on Friday, the U.S. Labor Department reported that 263,000 jobs were created last month, well above forecasts.

Reporting By Dan Burns; Editing by Chizu Nomiyama