Fed policy must be state contingent: Bullard

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James Bullard, the president of the St Louis Federal Reserve, on Monday said the Federal Open Market Committee was increasingly conducting policy based on predetermined actions and that policy should instead be state contingent.

At the Dialogue with the Fed: Beyond Today's Financial Headlines event, in St Louis, Missouri, Bullard said: "I think it is time for the committee to discard one-time policy changes with fixed end dates. The committee in the past never contemplated announcing several

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