Bullard says 'extended period' puts Fed in a box

WASHINGTON, March 22 Mon Mar 22, 2010 8:32am EDT

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WASHINGTON, March 22 (Reuters) - The Federal Reserve's vow to keep benchmark interest rates low for an extended period limits the central bank's policy flexibility, James Bullard, president of the St. Louis Fed, said on Monday.

Bullard told CNBC television he sees job growth picking up soon as the economy emerges from its worst recession in over 70 years.

"It's not going to be a roaring recovery, but it will be a reasonable recovery," Bullard said.

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