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Bullard Says Fed Will Likely Hold Mortgage-Backed Bonds Longer

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Aug. 2 (Bloomberg) -- Federal Reserve Bank of St. Louis President James Bullard, who backed this week’s Fed decision to continue bond buying, said the Fed will probably hold mortgage-backed securities among its assets longer than it had expected.

“We are more inclined to hold these longer than we were previously,” Bullard said today in response to an audience question after a speech in Boston. “We will probably hold mortgage-backed longer” and “a couple years in the future make a decision on what to do.”

To contact the reporters on this story: Steve Matthews in Atlanta at smatthews@bloomberg.net; Tom Moroney in Boston at tmorrone@bloomberg.net

To contact the editor responsible for this story: Christopher Wellisz at cwellisz@bloomberg.net