FRANKFURT (Reuters) - Now may be a good time to start normalizing U.S. monetary policy, Federal Reserve policymaker James Bullard said on Thursday.

In the text of comments delivered to an audience in Frankfurt, Bullard said: "Now may be a good time to begin normalizing U.S. monetary policy so that it is set appropriately for an improving economy over the next two years."

He said that the U.S. economy had normalized, adding: "Even with some normalization, monetary policy will remain exceptionally accommodative."

(Reporting By John O'Donnell; editing by John Stonestreet)