AI
Wednesday, March 19, 2014 2:52:26 PM
Federal Reserve again reduces bond purchases, keeps key rate near zero
hhttp://www.latimes.com/business/money/la-fi-mo-federal-reserve-statement-janet-yellen-taper-forward-guidance-20140319,0,5820793.story#axzz2wR6BhDab
WASHINGTON -- Federal Reserve policymakers voted Wednesday to continue reducing their bond-buying stimulus program and said they no longer would consider raising its near-zero interest rate once the unemployment rate fell below 6.5%.
The Federal Open Market Committee voted 8-1 to cut its monthly bond purchases to $55 billion, staying on pace to end the controversial program by the end of the year. The economy grew slower this winter, but that was partly because of bad weather.
Still, Fed officials downgraded their growth projections. They estimated the economy would expand at a rate of 2.8% to 3% this year, down from the December projection of 2.8% to 3.2%.
hhttp://www.latimes.com/business/money/la-fi-mo-federal-reserve-statement-janet-yellen-taper-forward-guidance-20140319,0,5820793.story#axzz2wR6BhDab
WASHINGTON -- Federal Reserve policymakers voted Wednesday to continue reducing their bond-buying stimulus program and said they no longer would consider raising its near-zero interest rate once the unemployment rate fell below 6.5%.
The Federal Open Market Committee voted 8-1 to cut its monthly bond purchases to $55 billion, staying on pace to end the controversial program by the end of the year. The economy grew slower this winter, but that was partly because of bad weather.
Still, Fed officials downgraded their growth projections. They estimated the economy would expand at a rate of 2.8% to 3% this year, down from the December projection of 2.8% to 3.2%.
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