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St. Louis Fed President James Bullard said......>

FED
FED: St. Louis Fed President James Bullard said there is "little risk inflation
will pick up due to low unemployment," according to a 12:10pm ET MNI Main Wire
story. He also called into question the Phillips curve theory, and cited a study
finding that US inflation would only rise 0.16pp if unemployment fell to 3.5%. 
- Bullard said in a recent essay that very low unemployment readings do not
appear to be an indicator of substantially higher inflation to come, throwing
cold water on the majority view among U.S. central bankers that they should
raise interest rates gradually to head off a potential surge in inflation as
unemployment dips to historic lows, said MNI's Jean Yung in the Main Wire story.

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