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Federal Reserve Bank of St. Louis President James Bullard said it is too soon to say when the U.S. central bank should ease back on its bond-buying stimulus efforts, even as the outlook for the economy looks relatively bright.

“I don’t think it’s prudent” to say when the asset buying might start to shrink, Mr. Bullard told reporters Thursday. “There’s just too much uncertainty at this point, and it would be inappropriate to try to tie things down to a specific date,” he said.

The…