Your partial permission to access Pkulaw.com expires on . Upon expiry your account can still be used, but some access will be limited.

Renew
Home > English > Legal News > Full Text
Hits Focused   English 中文
Copy Full Text Download Favorite Operation
  • Format:
  • View:

US Fed announces reduction in monetary stimulus program

[CLI Code] CLI.N.16765390(EN) 

  • Release Date:12-19-2013
  • Source:Xinhua

WASHINGTON -- The US Federal Reserve announced on Wednesday that it will reduce its pace of bond purchases, the third round of quantitative easing program, by $10 billion starting in January.

In what amounts to the beginning of the end of its bond-buying program, the central back will cut back on its monthly asset purchases from $85 billion to $75 billion, with $10 billion trimmed equally from mortgage-back securities and Treasury bonds, the Fed said after a two-day policy meeting of the Federal Open Market Committee, the Fed's powerful policy setting panel.

The policy shift comes after US economic activity is expanding at a "moderate" pace, and labor market has shown steady improvement, the Fed said in a statement.

Since the onset of the financial crisis, the Fed has kept its short-term interest rate at the historically low levels and completed two rounds of quantitative easing programs, known as QE1 and QE2. It is now purchasing longer-term government debt and mortgage-backed securities at a pace of $85 billion per month.
© Pkulaw (www.pkulaw.com) provides various professional solutions in such fields as legal information, law knowledge and legal software. Pkulaw provides you with abundant reference materials. When you invoke articles of laws and regulations, please check them with the standard texts.
You are welcome to view all our products and services. Pkulaw Express:How to quickly find information you need? What are the new features of Pkulaw V6?

Scan QR Code and Read on Mobile

智能检索

Welcome to V6

We will provide better legal search services for you

Back to V5 Still in V6