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Current Fed bond purchases 'appropriate': St. Louis Fed's Bullard

FILE PHOTO: St. Louis Federal Reserve Bank President James Bullard speaks at a public lecture in Singapore October 8, 2018. REUTERS/Edgar Su

WASHINGTON (Reuters) - The Federal Reserve’s ongoing government bond purchases are “appropriate” for the economy’s present situation, St. Louis Fed president Bullard said on Friday, the latest signal the Fed has no imminent plan to change its current program of buying $120 billion monthly in U.S. Treasury and mortgage backed securities.

“Right now we have a good policy in place,” Bullard said in comments to a monetary policy panel on the sidelines of the International Monetary Fund meetings. “We have our (quantitative easing) program in place with a substantial amount of purchases. I think that is appropriate.”

Reporting by Howard Schneider; Editing by Chizu Nomiyama

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