Wall Street Journal (08/11/13) Phil Izzo
Although economists think the U.S. gross domestic product will not top 3% until next year, more than half of those surveyed by the Wall Street Journal think economic growth is steady enough for the U.S. Federal Reserve to pull back on its bond purchases in September. They believe the central bank will go from buying $85 billion in bonds per month to $65 billion.
Ben Bernanke, Fed chairman, has said that the Fed will not end its bond purchases until the unemployment rate slips to around 7%. Economists believe that level will be reached in June 2014, when most expect the bond purchases to grind to a halt.