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Fed Holds Rates,Trims Bond Purchases Again
The U.S. Federal Reserve has again reduced its monthly bond-buying stimulus program by $10 billion.
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The U.S. Federal Reserve has again reduced its monthly bond-buying stimulus program by $10 billion.
The Fed will now buy mortgage-backed securities and longer-term U.S. Treasury securities at a rate of $20 billion and $30 billion per month, respectively. Each volume is $5 billion less than the previous pace.
The central bank cites underlying strength in the economy, good price stability and an improving labor market.
The Fed emphasizes its goal of achieving maximum employment and a 2% inflation rate. It also reiterates that it doesn't expect to raise the prime overnight lending rate currently at 0%-0.25% for a "considerable time" after phasing out the asset purchase program.
The bank notes it has no preset schedule for ending its bond-buying stimulus program, but analysts expect it will end late this year.
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