Fed: The Federal Reserve

The Federal Reserve: The Fed said it will cut its monthly bond purchases starting in February by $10 billion to $65 billion. It also reaffirmed its plan to keep short-term rates at record lows to try to reassure investors that it will keep supporting an economy that remains less than fully healthy, according to 660 News. Most economists expect that under Yellen, the Fed will announce a string of $10 billion monthly reductions in bond purchases at each meeting this year, concluding with a final $15 billion cut in December and The Federal Reserve is pushing ahead with a plan to shrink its bond-buying program because of a strengthening U.S. economy. Its doing so even though the prospect of reduced Fed stimulus and higher U.S. interest rates has rattled global markets. The decision by the Fed was announced in a statement Wednesday after Ben Bernankes final policy meeting. Bernanke will step down Friday after eight years as chairman and will be succeeded by Vice Chair Janet Yellen. (www.immigrantscanada.com). As reported in the news.