Bullard says inflation must pick up before asset purchases can be slowed

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The future of the Federal Reserve's asset purchase programme should hinge on US inflation levels, James Bullard, the president of the Federal Reserve Bank of St Louis, argued today.

Bullard raised concerns that the level of inflation – currently 1.1% – is "low and trending down", and said he would need to see a turnaround before supporting any decrease in the pace of asset purchases.

"It would help to see some numbers a little closer to our inflation target. I'd be happy with a story that gave a

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