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Fed Purchases of More Bonds Opposed by Two Regional Presidents

Two Federal Reserve district bank presidents said the strengthening U.S. economy is reducing the need for additional monetary easing.

“As the U.S. economy continues to rebound and repair,” additional steps “may create an overcommitment to ultra-easy monetary policy,” St. Louis Fed President James Bullard said in a speech yesterday in Hong Kong. Atlanta Fed President Dennis Lockhart said in Washington that “we should hold the balance sheet where it is for the time being and watch how the economy evolves.”