Bernanke Says Fed Ready to Finally Quit Stimulus

Thu Jun 20, 2013 AT 11:44 AM EDT

Federal Reserve Chairman Ben Bernanke said Wednesday that the central bank anticipates scaling back its massive economic stimulus later this year and end the bond purchases by the middle of next year if the recovery continues apace, reports The Washington Post. The Fed also struck notes of greater optimism about the economic recovery, saying the economy was expanding “at a moderate pace,” the job market was improving and risks to the recovery had “diminished since last fall,” according to The New York Times. Politico reports Bernanke would not address his own tenure at a news conference on Wednesday, saying he is too focused on his job.

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