WASHINGTON — Federal Reserve Chairman Ben Bernanke said on Wednesday the U.S. central bank still expects to start scaling back its massive asset purchase program later this year, but left open the option of changing that plan in either direction if the economic outlook shifted.
While sticking closely to a timeline he first outlined last month that the Fed would halt bond buying by mid-2014, when unemployment was projected to be around 7%, Bernanke went out of his way to stress that nothing was set in stone.
He will keep the pedal to the metal deep into 2013
WASHINGTON — Federal Reserve Chairman Ben Bernanke faces the first of two days of congressional testimony that will subject the Fed’s controversial bond-buying program to tough scrutiny and gauge his confidence in the resilience of the U.S. economy.
WASHINGTON — Ben Bernanke’s sway over financial markets has been on full display in recent weeks. When the Federal Reserve chairman speaks Wednesday to Congress, investors will once again parse each word for any subtle shift in the Fed’s stance on interest rates.
Bloomberg reports: Bernanke Seeks to Divorce QE Tapering From Interest Rates Federal Reserve Chairman Ben S. Bernanke will have a chance to use testimony to Congress today to drive home his message that winding down asset purchases won’t presage an increase in the Fed’s benchmark interest rate.
After a big sell-off in the bond market following the last time Federal Reserve Chairman Ben Bernanke made a public appearance (at his testimony before the Joint Economic Committee of Congress on May 22), most expect today's FOMC monetary policy statement to strike a dovish tone and attempt to pare back some of the volat