WASHINGTON — Federal Reserve Chairman Ben Bernanke said Wednesday that the Fed’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 told lawmakers that the job market has made some progress since the Fed began buying $85 billion a month in bonds in September, as part of his mid-year economic report to Congress.
And he repeated his belief that the Fed could slow that pace later this year if the economy strengthens.
Read tomorrow's Arkansas Democrat-Gazette for full details.