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Fed's Bullard: Not much sign inflation heading up toward target

Wochit 0:50 mins

Low U.S. inflation is a concern and it has not begun to head higher, a senior U.S. Federal Reserve official said on Wednesday, adding that inflation was one of the factors under scrutiny as policymakers weigh tapering monthly bond buys. Data from the Federal Reserve Bank of New York showed that Americans trimmed their overall indebtedness in the latest quarter, continuing a nearly five-year trend as mortgage balances fell further U.S. producer prices were flat in July and pointed to very little inflationary pressure in the economy, which could add to worries at the U.S. Federal Reserve that inflation is running too low.

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