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Jobless rate now at 7 percent, the level Ben Bernanke said would mean the end of quantitative easing

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Federal Reserve Chairman Ben Bernanke in June outlined the planned scenario for bringing an end to quantitative easing. The Fed would begin reducing its monthly bond purchases from $85 billion "later this year," Bernanke said, and ultimately would phase out the program altogether to coincide with unemployment falling "in the vicinity of 7 percent," which he projected would be around mid-2014....