Federal Reserve to scale back stimulus by $10 billion [View all]

[DonViejo]

Source: Washington Post

The Federal Reserve announced Wednesday that it will scale back its multibillion-dollar stimulus program, a sign of its growing confidence in the nation’s economic recovery.

For more than a year, the central bank has been buying $85 billion in bonds every month in hopes of pushing down long-term interest rates and boosting demand among consumers and businesses. Starting in January, it will reduce that amount by $10 billion -- a small but symbolic first step toward unwinding its unprecedented support of the economy.

Read more: http://www.washingtonpost.com/business/economy/fed-to-scale-back-stimulus-by-10-billion/2013/12/18/54dc2ee4-6747-11e3-8b5b-a77187b716a3_story.html