Federal Reserve Bank of St. Louis President James Bullard said Tuesday Greek economic problems are unlikely to affect the U.S., leaving the Fed on track for rate rises later this year. What’s happening in Europe “would not change the timing of any rate hike. I would say September is still very much in play� for raising rates, Bullard told reporters after a speech in St. Louis. More broadly, he said “every meeting is in play depending on the data,� which he said had been “stronger� recently. He also described recent inflation data as being “more lively� and set to rise further over time. Bullard added that against crisis events in Europe, he’s actually grown more bullish on the U.S. outlook. Alluding to weak data at the start of the year, he said “the idea there was some major slowing in the U.S. economy has been dismissed at this point, therefore I do feel more confident� about what lies ahead. Bullard spoke with reporters as Greece defaulted on required payments to the International Monetary Fund, amid political brinksmanship over the terms of a deal that would work to keep the troubled nation in the European Union. Some have worried trouble there could roil the world economy and wound the U.S. as collateral damage, affecting the Fed’s desire to raise rates this year. Bullard said he wasn’t that worried about Greece, either for the U.S. or Europe. “I think that the risk of contagion to the rest of Europe from Greece is low� because the European Central Bank can address any trouble with its ongoing bond buying stimulus program, he said.

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