Federal Reserve Bank of St. Louis president James Bullard argued Monday that despite criticisms and concerns raised, the need for the Federal Reserve’s recently announced asset-buying program outweighs any potential risks, especially in light of the “clear disinflation trend” that has developed this year.

In remarks prepared for a presentation at the meeting of the New York Society of Security Analysts, Bullard gave his thoughts on the need for buying $600 billion worth of Treasuries by the second quarter of 2011.

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