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Strong data damps Fed need to buy bonds: Bullard

From reuters.com

Signs the U.S. recovery is gaining strength suggest the Federal Reserve may not need to buy any more bonds to spur growth, a top policymaker said on Saturday. "I don't think it's very likely right now because the tone of the data has been pretty strong" through the end of 2011 and up to now, St. Louis Fed President James Bullard told reporters after a speech at an economics conference. "We can probably wait and see for now." The Federal Reserve cut benchmark rates to near zero more than three years ago and has bought $2.3 trillion in bonds to boost growth. While the Fed has left the door open to further ... (full story)

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