The Fed is still likely to take a measured approach to rate hikes despite calls for bigger action

Several Federal Reserve officials, both privately and publicly, are pushing back against calls by St. Louis Fed President Jim Bullard on Thursday for super-sized rate hikes, and instead suggesting the central bank is likely to embark initially on a more measured path.

The comments of these officials suggest markets may have wrongly interpreted Bullard’s remarks as being more widely held than they are by Fed officials and leadership.

Atlanta Fed President Raphael Bostic told CNBC on Thursday after the inflation report, “My views have not changed” for three or four rate hikes this year, likely beginning with…