The Federal Reserve may not need to buy the full $1.25 trillion in mortgage-backed securities the central bank has authorized by yearend, two regional Fed bank chiefs said.

Richmond Fed President Jeffrey Lacker said Thursday in a speech in Danville, Va., that he would evaluate "whether we need or want the additional stimulus" from buying the full amount. St. Louis Fed President James Bullard, speaking to reporters in Little Rock, said "it might not be necessary."

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