Politics

Federal Reserve votes to start curtailing stimulus program

WASHINGTON – Federal Reserve policymakers voted Wednesday to start reducing a key stimulus program, signaling greater confidence in the strength of the recovery in the wake of recent upbeat economic data.

BernakeThe Federal Open Market Committee decided to start tapering the central bank’s $85 billion in monthly bond purchases, aimed at holding down long-term interest rates. The program began in September 2012.

Fed officials said they would reduce the purchases by $10 billion a month, starting in January.

In a statement after a two-day meeting, Fed policymakers said they were reducing the purchases to $75 billion a month “in light of cumulative progress toward maximum employment and the improvement in the outlook for labor market conditions.”

For more on this LA Times story, click here.

VIEW & ADD COMMENTS

1 Comment to “Federal Reserve votes to start curtailing stimulus program”

    guest said:
    December 18, 2013 at 12:28 PM

    BS..Bernanke works for the rich…there doing this cuz janet yellin is on her way to clean up his mess..good riddance to bad rubbish!!

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