WASHINGTON (Reuters) - Below is the text of Federal Reserve Chairman Ben Bernanke's prepared testimony on the U.S. economy to the congressional Joint Economic Committee on Wednesday. Chairman Brady, Vice Chair Klobuchar, and other members of the Committee, I appreciate this opportunity to discuss the economic outlook and economic policy. Current Economic Conditions Economic growth has continued at a moderate pace so far this year. Real gross domestic product (GDP) is estimated to have risen at an annual rate of 2-1/2 percent in the first quarter after increasing 1-3/4 percent during 2012. ...

WASHINGTON (AP) — Sales of previously occupied U.S. homes ticked up last month to the highest level in three and a half years, helped by a jump in the number of houses for sale.