According to CNBC, Fed tapering could be pushed back if inflation levels remain low.

"The lower inflation trend could convince Fed officials to go slow on tapering (bond purchases)," said Kevin Logan, an economist at HSBC in New York.

St. Louis Fed President James Bullard told a Rotary Club luncheon in Paducah, Ky., that low inflation is a concern and that it was one of the factors under scrutiny as policymakers weigh tapering monthly bond buys.

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