President and CEO of the Federal Reserve Bank of St. Louis James Bullard said that policy makers may not start to raise rates until early 2012 while facing a “too low for two long” argument that may “weigh heavily” on the central bank. “The main challenge for monetary policy going forward will be how to adjust the asset purchase program without generating inflation and still providing support to the economy while interest rates are near zero.”

This should come as no surprise coming from Bullard. Back on September 1st, Bullard said the Federal Reserve interest rate hikes may be “quite … …READ MORE