WASHINGTON (AP) — Chairman Ben Bernanke says markets are more stable now that investors better understand the Federal Reserve's guidance on when it might start reducing its bond purchases.
"I think the markets are beginning to understand our message," he said at a House Financial Services hearing.
Last month stocks plunged after Bernanke said the Fed could reduce its $85 billion in bond purchases later this year if the economy improves. But stocks have since recovered after Bernanke and other Fed members have made clear that any change depends on the economy's performance, not a target date.
On Wednesday Bernanke told lawmakers the Fed's timetable is not on a "preset course."
Bernanke says it's important to provide guidance on the Fed's possible moves so that investors don't expect the purchases to continue indefinitely.
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Buffalo Police have arrested 26-year-old Nicholas Finnegan of South Buffalo and charged him with pushing Russ Ross to his death.
Buffalo police homicide detectives are investigating a fatal shooting that occurred early Saturday morning.
Police say there were 32 burglaries, 20 in Albion, five in Medina, four in Oakfield and three in the City of Lockport.
The Niagara County Sheriff's responded to Saunders Settlement Road near Comstock in Cambria Friday night after receiving a tip about a suspected meth lab.
Volunteers at Buffalo’s Salvation Army created holiday cards and gift bags for the seniors at the Golden Age Center.
Call 4 Action looked into claims this week that members of BJ's Wholesale Club were paying too much on sales tax on some deeply discounted items.