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Market jumps as Fed Cuts QE Pace to $75 Billion on Labor Market Outlook
The Federal Reserve is cutting its monthly bond purchases to $75 billion from $85 billion, taking the first step toward unwinding the unprecedented stimulus that Chairman Ben S. Bernanke put in place to help the economy recover from the worst recession since the 1930s.

The central bank today left unchanged its statement that it will probably hold its target interest rate near zero “at least as long as” unemployment exceeds 6.5 percent, so long as the outlook for inflation is no higher than 2.5 percent.

http://www.bloomberg.com/news/2013-12-18/fed-cuts-qe-pace-to-75-billion-on-improved-job-market-outlook.html