Fed Chairman Bernanke in testimony to Congress said on Wednesday, that the Central Bank will
start to taper its bond buying program, later this year.
"Our asset purchases depend on economic and financial developments, but they are by no means on a preset course,"
start to taper its bond buying program, later this year.
"Our asset purchases depend on economic and financial developments, but they are by no means on a preset course,"
In his remarks on Wednesday, Bernanke said the pace of asset purchases could be reduced "somewhat more quickly" if economic conditions improved faster than expected. On the other hand, the current pace "could be maintained for longer" if the labor market outlook darkened, or inflation did not look like it was rising back toward the Fed's 2 percent goal.
"Indeed, if needed, the (Fed's policy-setting) committee would be prepared to employ all its tools, including an increase (in) the pace of purchases for a time, to promote a return to maximum employment in a context of price stability,"
