While moderate economic recovery continues, and should do so into next year, “significant restraints” still hold back the pace of recovery, Federal Reserve Board chairman Ben Bernanke testified yesterday.

The restraints include housing, where “sales and construction have been temporarily boosted lately by the homebuyer tax credit,” Bernanke told the House Budget Committee, according to a prepared text released by the Fed.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.