Autos on Best U.S. Pace Since ’07 With Bernanke Speed Bump: Cars
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Federal Reserve Chairman Ben Bernanke said he is letting up on the monetary gas pedal. That hasn’t done much yet to affect U.S. auto sales that may have accelerated in June to the fastest pace in 66 months.
Rates charged for new-car loans didn’t budge from near-record lows after the Fed began signaling a tapering of its bond-buying as the central bank adjusts to an economy that’s following the auto industry’s rebound. Bernanke’s comments triggered a jump in mortgage rates and a stock-market slide.