Washington, D.C., June 20, 2013—Federal Reserve
Chairman Ben Bernanke announced yesterday that the central bank will begin
phasing out its $85 billion in monthly bond buying later in 2013, according to
This was one of the most aggressive easing programs
in the Fed’s history.
Bernanke says that the Fed will halt purchases
completely in 2014, as long as the world economy performs as expected. He also
said that these actions hinge on gains in the U.S. labor market and a pickup in