WASHINGTON • Chairman Ben Bernanke said Wednesday that the Federal Reserve’s timetable for reducing its bond purchases is not on a “preset course” and the Fed could increase or decrease the amount based on how the economy performs.
Bernanke is telling lawmakers in prepared testimony that the job market has made some progress since the Fed began buying $85 billion a month in bonds in September. And he repeated his belief that the Fed could slow that pace later this year if the economy strengthens...
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