ST. LOUIS — St. Louis Federal Reserve Bank President James Bullard said Friday Wednesday's meeting of the Federal Open Market Committee was not the right time to begin tapering the Fed's asset purchases, but that third quarter GDP tracking has been moving higher and he is still optimistic growth will pick up next year.

Bullard, who called the decision not to taper at the September meeting a close call, said this month's FOMC meeting "didn't seem to be right juncture to pull back on the pace of asset purchases."

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