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05/22/2013
From Reuters:The Federal Reserve's monetary stimulus is helping the economy recover but the central bank needs to see further signs of traction before taking its foot off the gas pedal, Fed Chairman Ben Bernanke said on Wednesday.
Home resales rose in April to the highest level in nearly 3-1/2 years and prices surged, offering the economy a buffer from the stiff headwinds posed by belt-tightening by Washington.
Many Federal Reserve officials earlier this month wanted to see more evidence that the economy was recovering before shifting toward a tapering of their bond purchase program, the Fed said on Wednesday.
The U.S. government bond market has weakened in recent weeks but some investment strategists fear that this may only be the beginning of an extended sell-off.