Former St. Louis Fed President James Bullard just said a pickup in economic activity this summer could delay the Fed's plan to end rate hikes.。Bullard said in an interview, "This (economic) re-acceleration may put upward pressure on inflation, stop the anti-inflation we are seeing, and delay the Fed's plan to shift policy."。Bullard said that if the anti-inflation process stalls or price pressures increase, "it will indicate that the Fed's interest rate level will be higher."。Fed policymakers raised interest rates by 25 basis points last month, setting the benchmark rate at 5.25% -5.Interval of 5%。Officials will see more economic data before their next policy meeting on September 19-20, including each month's non-farm payrolls report and new data on inflation.。Brad said, "I think we are likely to be in a new system with higher interest rates" and "inflation is still above target today."。Core inflation is likely to be sticky and decline at a fairly slow pace. "。