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America Breaking News: Don't Reduce QE3 Until Inflation Ticks Up: Fed's Bullard

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July 12, 2013 AT 6:23 PM
A top U.S. central banker said the Federal Reserve should keep buying bonds at the current pace until inflation rises back up toward the 2-percent target. The remarks illustrate how divided the Fed is on its quantitative easing program. St. Louis Fed President James Bullard, a voter on policy this year, told reporters the Fed would have to rethink its strategy for reducing asset purchases if inflation, now around 1 percent, drifted lower.