JONESBORO, Ark. — St. Louis Federal Reserve Bank President James Bullard Wednesday said inflation is always a worry for him and his monetarist colleagues at the bank, but the low rates recently have given the Fed continued leeway with its accommodative monetary policy.

"We worry a lot about inflation risk," Bullard said in response to a question following a speech to an agribusiness conference at Arkansas State University. "But if you look at inflation today PCE as measured from a year ago actually running at a pretty low level" of 1.2%-1.4%.

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