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Fed Ends Quantitative Easing Program
This week the Federal Reserve will phase out the debt purchase initiative it launched two years ago to bolster the American economy.
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This week the Federal Reserve will phase out the debt purchase initiative it launched two years ago to bolster the American economy.
The so-called quantitative easing program began buying Treasury bonds and mortgage-backed securities at monthly rates of $45 billion and $40 billion, respectively, in September 2012.
In January the Fed began reducing each type of purchase in $5 billion increments. The central bank said in July it intended to stop the program at the end of October.
The American economy is strong enough to end the stimulus program, according to the Fed. But it reiterates that employment and inflation aren't high enough to justify raising interest rates, currently at zero.
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