Chairman Ben Bernanke says the Federal Reserve could begin “letting up a bit on the gas pedal” by moderating its buying of mortgage-backed securities and long-term Treasury bonds later this year. He wouldn’t say if his term as Fed chief will wind down, too.
How Fed moves affect mortgage rates
Click through the timeline below to see the effect the Fed's moves had on mortgage rates.
The rate-setting Federal Open Market Committee meets at least eight times a year. Its members include the Board of Governors of the Federal Reserve System, the president of the Federal Reserve Bank of New York and a rotating selection of presidents of the other 11 reserve banks.
Board of Governors (Chairman)
New York(Vice-Chairman)
Board of Governors
Chicago
Kansas City, Mo.
Boston
St. Louis