Trending In Our News Feeds – Bernanke cautiously optimistic on economic recovery. Federal Reserve Chairman Ben Bernanke gave a cautiously optimistic economic forecast at a press conference yesterday following a two-day meeting of the Federal Open Market Committee. Bernanke said the Fed expects to scale back its bond buying program later this year, and end the program when unemployment hits 7% (hopefully by the middle of next year). The Fed will raise short-term interest rates when unemployment falls to 6.5%, staying in line with the its plan to tie interest rates to unemployment, which the bank announced last year.
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