WASHINGTON — St. Louis Federal Reserve Bank President James Bullard, in a CNBC interview from Jackson Hole Friday, said the Fed doesn't have to be in a hurry to taper, adding that labor markets are better than they were a year ago, but that GDP growth remains weak.

"I don't think we have to be in any hurry in this situation," Bullard said about the decision to pull back on the Fed's buying of $85 billion a month of U.S. Treasury and mortgage bonds.

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