LONDON - The U.S. economy is being held back by uncertainty over both domestic, notably fiscal issues, and events in the euro area, James Bullard, President and CEO of the Federal Reserve Bank of St. Louis, says.

Bullard says the effects of the extension of Operation Twist, the move to extend the average maturity of the Fed's own portfolio, are uncertain and will take time to materialize. With uncertainty abounding, Bullard questioned whether the US economy would meet current forecasts through the remainder of this year.

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