Fed's Bullard - want to see higher inflation before tapering
WASHINGTON Nov 1 (Reuters) - U.S. inflation is still running well below the Federal Reserve's 2 percent goal and it ought to be heading higher before the U.S. central bank begins scaling back a massive bond-purchase program, a senior Fed official said on Friday.
"I would like to see inflation coming back toward target before we make a decision to taper," St. Louis Federal Reserve Bank President James Bullard told reporters.
But Bullard, who voted this week in favor of the Fed continuing to buy bonds at an $85 billion monthly pace, declined to indicate if the next Fed policy meeting, in December, was too soon to commence reducing asset purchases.
"I would not want to speculate on what the committee will do in December," he said. "I have been an advocate that we keep our options open at every meeting."
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