While monetary policy has become more accommodative than it was six months ago, GDP should grow faster than potential for the next two years, Federal Reserve Bank of St. Louis President James Bullard said Thursday.

"I have argued that the U.S. potential growth rate is lower today than it has been in the recent past, about 2.3 percent," Bullard said during an economic forecast luncheon sponsored by the Wisconsin Bankers Association, according to a Fed release. Bullard forecast "real GDP growth will be faster than potential, at around 3.2 percent in both 2013 and 2014," based on easier monetary policy, reduced headwinds and reduced uncertainty.

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