Federal Reserve Reduces Economic Stimulus
The Federal Reserve moved to reduce its economic stimulus program after determining the U.S. economy is growing at a strong enough clip.
The Federal Reserve moved to reduce its unprecedented economic stimulus program by $10 billion per month - $5 billion from treasuries and $5 billion from mortgage-backed securities - as the central bank's policy-making arm determined the U.S. economy is growing at a strong enough clip to allow for it to begin to pull back. Ben Garber, economist at Moody's Analytics, explains to TheStreet's Joe Deaux what the taper means.
