Fed’s Bullard: rates could stay on hold until 2012

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James Bullard, the president of the St Louis Federal Reserve, has said the federal funds rate could remain at its current record low until 2012.

In comments made on Wednesday in Missouri, Bullard noted that the Federal Open Market Committee (FOMC) did not begin raising the policy rate until two-and-a-half to three years after the past two recessions ended.

Assuming that the most recent recession ended in summer 2009, and assuming that the FOMC would behave in the same way that it's behaved in th

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