In an unexpected move, the Federal Reserve decided not to put the brakes on its easy money policy, and will keep bond purchases at $85 billion per month.
Chairman Ben Bernanke said at the press conference after the meeting that there is “no fixed schedule” or “magic number” for when the Federal Reserve will begin to slow or end its bond purchases.
The decision reached at the end of Wednesday’s two-day meeting of the Federal Open Market Committee (FOMC) came out of the blue, as Chairman Ben Bernanke gave strong hints in August and July that the Fed would decide to begin tapering its stimulus.
“We expect them to finish tapering in March, in time for the unemployment rate to fall below 7 percent," Societe General currency strategist Kit Juckles wrote in a note to clients.
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Man when this thing falls, it's going to fall really really hard....no one will crawl out of the rubble.
ReplyDeleteIt has got to at some point, just keep kicking the can down the road and hope it doesn't happen on your watch. What an intelligent way to run a nation..........
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