Federal Reserve Announces Stimulus Tapering (Bloomberg)
The U.S. Federal Reserve has announced that, starting in January, it will cut its monthly stimulative bond purchasing from $85 billion to $75 billion. ???In light of the cumulative progress toward maximum employment and the improvement in the outlook for labor market conditions, the committee decided to modestly reduce the pace of its asset purchases,??? the Federal Open Market Committee said today at the conclusion of a two-day meeting in Washington.