WASHINGTON — Now that the big risk of contagion from Europe has diminished, the U.S. could keep benefiting from a Europe "on hold" through the German elections in the fall, St. Louis Federal Reserve Bank President James Bullard said Wednesday.

Interviewed on Bloomberg Radio, Bullard said he thinks the Fed has policy "about right" now and that the low inflation rate means there is no hurry to worry about tapering large asset purchases.

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