“If the incoming data are broadly consistent with this forecast, the Committee currently anticipates that it would be appropriate to moderate the monthly pace of purchases later this year.
And if the subsequent data remain broadly aligned with our current expectations for the economy, we would continue to reduce the pace of purchases in measured steps through the first half of next year, ending purchases around midyear.
In this scenario, when asset purchases ultimately come to an end, the unemployment rate would likely be in the vicinity of 7 percent…”
Press Conference, June 19, 2013
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