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Fed policy maker warns on low rates stance

"The US Federal Reserve’s plan to keep interest rates low even once the economy is back to normal could risk a policy mistake, a Fed policy maker has warned in an interview with the Financial Times.

"James Bullard, president of the St Louis Fed, said he did not see a persuasive reason to think interest rates should be below their long-run level in 2016, if unemployment and inflation are back to normal.

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