Article source
BBC
Article date
Tue, Dec 17, 2013
Article link
The US Federal Reserve has announced a slowdown in its effort to boost the US economy. The central bank said it planned to scale back its $85bn a month bond buying programme by $10bn a month.
The Fed's governing committee cited stronger job growth as a reason for the decision to begin winding down its program of bond buying.
The Fed's decision to begin to ease its extraordinary stimulus efforts also indicates that the central bank believes that the US economy has finally strengthened enough that it no longer needs as much support.
The $10bn reduction comes from two areas: the Fed will reduce its US Treasury purchases from $45bn to $40bn per month as well as its buying of mortgage-backed securities (MBS) from $40bn to $35bn per month.