U.S. stocks rallied after the Federal Reserve announced that it would begin slowing down the pace of bond purchases, known as quantitative easing. The Fed policymakers voted to cut $10 billion a month from its $85 billion bond-buying program, starting in January.
The Federal Open Market Committee in a statement on its policy decision, said “In light of the cumulative progress toward maximum employment and the improvement in the outlook for labor market conditions, the Committee decided to modestly reduce the pace of its asset purchases.”
The Federal Open Market Committee in a statement on its policy decision, said “In light of the cumulative progress toward maximum employment and the improvement in the outlook for labor market conditions, the Committee decided to modestly reduce the pace of its asset purchases.”
