Heads up! The Federal Reserve will release the minutes from the FOMC’s April 30-May 1 monetary policy meeting in just a few moments at 2 PM ET.
The hot topic everyone wants to know about is when the Fed is considering tapering back the bond purchases it is making under its open-ended quantitative easing program. In recent weeks, the bond market seems to be taking this prospect seriously, as investors have sold government bonds and yields have risen.
In his testimony before the Joint Economic Committee of Congress today, Bernanke asserted that premature tightening of monetary stimulus risks slowing or ending the recovery. He also said that the timeline for winding down quantitative easing was completely dependent on developments in the economic data going forward.
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