URGENT: Fed announces tapering of bond-buying program

Politics Economy Society

The U.S. Federal Reserve said Wednesday it has decided to scale back a massive bond-buying program amid the economic recovery from the coronavirus pandemic. After a two-day meeting of the policy-setting Federal Open Market Committee, the central bank said it will begin reducing monthly purchases in Treasuries and mortgage securities by $15 billion, while maintaining its target range for the federal funds rate at 0 to 0.25 percent. The Fed indicated after its previous policy meeting in September that a decision would be nearing on beginning to taper the bond-buying program. The quantitative eas...

Kyodo News

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