St. Louis Fed President James Bullard told CNBC in a "Squawk Box" interview on Thursday:

• Fed is in a very good place, no urgency to act
• Rates are "a bit tight" right now
• Balance sheet decision to hopefully come in "next couple of meetings"
• Getting the right level of reserves means a bigger balance sheet
• Rates are high in comparison to the global environment we're in
• Says that he argued against a December rate hike
• Says "I felt like we went too far" with December decision
• Fed might miss 2% inflation target again this year
• Fed could re-center inflation expectations around 2%