Aug. 27 (Bloomberg) -- Federal Reserve Bank of St. Louis President James Bullard said the central bank may not need to buy all the $1.25 trillion in mortgage-backed securities the central bank has authorized for purchase by year-end.

“It’s possible it might not be necessary, but I think even if we stop short it would be close” to $1.25 trillion, Bullard told reporters after a speech in Little Rock, Arkansas.

Bullard’s comments were similar to those made today by Richmond Fed President Jeffrey Lacker.

“I will be evaluating carefully whether we need or want the additional stimulus that purchasing the full amount authorized under our agency mortgage-backed securities purchase program would provide,” Lacker said today in a speech in Danville, Virginia.

To contact the reporters on this story: Timothy R. Homan in Washington at thoman1@bloomberg.net

Last Updated: August 27, 2009 18:42 EDT