Fed Scales Back Bond-Buying Program

“The Federal Reserve said it would reduce its signature bond-buying program to $75 billion per month, taking a step away from a policy meant to recharge economic growth, and said that it will continue in ‘further measured steps at future meetings’ if the economy stays on course,” the Wall Street Journal reports.

“After months of intense discussion at the Fed and in financial markets, the Fed’s policy-making committee announced Wednesday it would trim its purchases of long-term Treasury bonds to $40 billion per month, a reduction of $5 billion, and cut its purchases of mortgage-backed securities to $35 billion per month, a reduction of $5 billion.”

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