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2012-07-12 — moneynews.com
Federal Reserve Bank of St. Louis President James Bullard said the U.S. fiscal position is as weak as some euro-area countries' and lawmakers must take "dramatic" measures to tackle it and restore confidence.
"The U.S. fiscal situation is similar to that of some countries in Europe and requires dramatic and sustained attention," Bullard said in a speech in London. "The political compromise in the U.S. has been to delay action until after the November election, but markets tend to pull the uncertainty forward."
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