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No need for Fed to raise interest rates in near term - Bullard


(Reuters) - The Federal Reserve can leave interest rates where they are for now because inflation is not likely to rise much even if the U.S. job market continues to improve, St. Louis Fed President James Bullard said on Monday. "The current level of the policy rate is likely to remain appropriate over the near term," Bullard told the America's Cotton Marketing Cooperatives 2017 Conference in Nashville, Tennessee. The personal consumption expenditures (PCE) price index excluding food and energy, which is the Fed's preferred gauge of inflation, has been running at 1.5 percent and has trended ...

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First Published: Mon, August 07 2017. 22:52 IST