May 28 (Reuters) - St. Louis Federal Reserve President Alberto Musalem on Thursday said an interest rate hike may be needed if inflation does not resume easing within the next six months.

"If we don't see disinflation in the next one to two quarters, that would concern me," Musalem said at a Central Bank of Iceland and Northwestern University economic conference in Reykjavik as he laid out scenarios that in his view may require a Fed rate hike. "Right now my view is that the risks have tilted more towards the inflation side than the labor market side."