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July 13, 2021, 5:47 a.m. EDT

St. Louis Fed President Bullard says time is right for a Fed tapering

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By Steve Goldstein

The president of the St. Louis Fed said the Federal Reserve should start reducing the stimulus it provides to the U.S. economy, though he added the reduction did not need to start immediately. "I think with the economy growing at 7% and the pandemic coming under better and better control, I think the time is right to pull back emergency measures," James Bullard told the The Wall Street Journal in an interview published Tuesday . "I am a little bit concerned that we're feeding into an incipient housing bubble," he said, though he didn't explicitly call for a reduction in mortgage-backed securities purchases. New York Fed President John Williams defended the Fed's asset purchasing, and MBS buying in particular, on Monday. U.S. stock futures continued to point to a steady start after the Bullard interview.

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