Fed should move quickly to 5% then react to data, says leader

The president of the district of the Federal Reserve in St. Louis, James Bullard, said on Wednesday, 18, that the institution must move quickly until it reaches 5%, and then react to the data. "We have to react to the data we have now, not the data we will have in the future," he said in an interview with The Wall Street Journal. According to him, the Fed should react strongly,…