The Federal Reserve may “moderate” its pace of bond purchases later this year and may end them around mid-2014, Chairman Ben S. Bernanke said.
“If the incoming data are broadly consistent with this forecast, the committee currently anticipates that it would be appropriate to moderate the pace of purchases later this year,” Bernanke said at a press conference in Washington. “And if the subsequent data remain broadly aligned with our current expectations for the economy, we will continue to reduce the pace of purchases in measured steps through the first half of next year, ending purchases around mid-year.”
To contact the reporter on this story: Aki Ito in San Francisco at firstname.lastname@example.org
To contact the editor responsible for this story: Mark Rohner at email@example.com