LOUISVILLE, Ky. — St. Louis Federal Reserve Bank President James Bullard Thursday said the debate over whether to scale back asset purchases will depend on "whether inflation naturally returns to target" and other economic data in the second half of the year.

"It is especially important to see if better macroeconomic growth materializes in the months and quarters ahead, and whether inflation naturally returns toward target," Bullard said in prepared remarks in Louisville, Ky.

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