Fed's Bullard: We're in good shape with inflation right now

In an interview with CNBC on Tuesday, St. Louis Fed President James Bullard said he thinks that inflation will move up this year, as reported by Reuters.

Additional takeaways

"We're in good shape with inflation right now."

"Fed will take inflation on board."

"The biggest thing in equities is tech firms and how high investors will value them."

"That's not a bubble, that's just normal investing."

"There is a lot of action in markets, you do see speculative frenzies from time to time in markets."

"No value created at the end of the day in GameStop frenzy but a lot of money changed hands."

"Financial conditions generally are very good right now."

"We're not in the kind of panic situation that we were in last March and April."

Market reaction

The US Dollar Index edges modestly higher in the early American session and was last seen losing 0.17% on the day at 90.32.