Too soon to withdraw support for MBS, Fed's Bullard says

11/23/2009 | Reuters

The Federal Reserve should extend its program for purchasing mortgage-backed securities so it can be put back to work quickly if needed, said James Bullard, president of the Federal Reserve Bank of St. Louis. "I would just like to keep them active at a very low level," he said. With the program running but purchasing at a minimum, support for the mortgage-backed securities market can be restarted quickly in event the economy takes an unexpected downturn, Bullard said.

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