WASHINGTON — St. Louis Federal Reserve Bank President James Bullard Friday indicated his misgivings with the timeline the Fed has laid out for slowing and then ending its current asset purchases, warning against basing current actions on optimistic forecasts as opposed to actual economic outcomes.

In remarks prepared for delivery to the Fifth Annual Rocky Mountain Economic Summit, Bullard argued that caution is needed, and that the policymaking Federal Open Market Committee should wait and see if there is actual improvement in the coming months and quarters.

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