Fed to Scale Back Stimulus as Economy Shows Steady Growth
The Federal Reserve said Wednesday that it would reduce its monthly bond-buying campaign to $75 billion in January, beginning a retreat from its stimulus campaign, because it no longer sees the need for the full force of those efforts.
The Fed sought to offset concerns that it is once again pulling back too soon by reinforcing its intent to hold short-term interest rates near zero “well past the time that the unemployment rate declines below 6.5 percent, especially if projected inflation continues to run below the committee’s 2 percent longer-run goal.”
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http://www.nytimes.com/2013/12/19/business/economy/fed-scales-back-stimulus-campaign.html?emc=edit_na_20131218
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