Asset purchases should remain tied to US economy -Fed's Bullard

NEW YORK Thu Feb 21, 2013 2:10pm EST

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NEW YORK Feb 21 (Reuters) - The Federal Reserve should stand by its policy of tying asset purchases to U.S. economic developments, the president of the Federal Reserve Bank of St. Louis said on Thursday, adding the central bank has room to maneuver on the size of purchases.

"We've stated that this would be a policy that depends on the performance of the U.S. economy. We should stick to that and we should tailor the program in response to macro economic developments," James Bullard told reporters on Thursday.

"We can continue for a while and then assess things as we go forward," he added. "But I would like to get the (Fed policy-setting) committee to react to incoming data and adjust the program to incoming data," whether it is decreasing or increasing purchases.

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