Bullard advises keeping Fed's asset-buying program alive

11/23/2009 | Bloomberg · Wall Street Journal, The

James Bullard, president of the Federal Reserve Bank of St. Louis, said the Fed's asset-buying program should be kept active to give the central bank additional policy options. "I have advocated to keep the asset-purchase program open but at a very low level, and wait and see what happens, and as information comes in about the economy, we can adjust that program while the federal funds rate remains at zero," Bullard said. He also reiterated the importance of keeping the Fed independent. "Fed independence is vital in maintaining the credibility of monetary policy," Bullard said.

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