Federal Reserve hits 'taper' button and markets like it

Article source
CS Monitor

The Federal Reserve decided Wednesday to modestly reduce the size of monthly bond purchases that are designed to boost the pace of economic recovery. But it carefully worded its announcement to signal that the central bank remains committed to boosting still-tepid US growth.

The Fed now plans to buy about $75 billion per month of Treasury and mortgage agency bonds, down from $85 billion.

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