St. Louis Federal Reserve Bank President James Bullard on Wednesday credited the administration of U.S. President Donald Trump with helping to boost U.S. economic growth in a way that may prove to be sustainable.

"I definitely think that the political change had an influence," he told reporters after speaking at CFA Society Chicago, pointing specifically to the reduction in corporate tax rates and improvements in business sentiment since late 2016, when Trump was elected.

"All of that is feeding through the economy," he said, adding that he might increase his own forecast for sustainable U.S. economic growth, currently at 2 percent, if the economy continues to grow above that.