President and CEO of the Federal Reserve Bank in St. Louis speaks on the economy at MU

COLUMBIA, Mo. (KMIZ)

Jim Bullard, president and CEO of the Federal Reserve Bank in St. Louis, stopped at the University of Missouri Thursday morning to discuss the economy and monetary policy.

Following breakfast, attendees listened as Bullard talked about how the nation's current inflation is exceptionally high and is comparable to inflation in 1974 and 1983.

Bullard says the economy is still flourishing, projecting gross domestic product to grow by a 2.8 percent rate this year.   

Bullard says he has concerns about rate increases.

"The aim would be that uh this will help control inflation but um this idea that we're behind the curve mean that um, we're a little bit at risk here that uh the inflation will not come under control as rapidly as we hoped," said Bullard.

Bullard says when the reserve meets again in May, he would know more about rate increases.