FOMC Continues to Taper and Telegraphs Next Move Based on Data

The Federal Reserve will taper another $10 billion in asset purchases to $15 billion as expected. Following the announcement, Fed Chair Janet Yellen said at the press conference QE3 will end completely in October. Her goal is to clearly communicate policy as data comes in and keep expectations in line. Ben Garber, Economist at Moody’s Analytics tells TheStreet’s Jill Malandrino, investors can expect an interest rate hike in early 2015 but to keep in mind Fed moves will be conditional and policy is data dependent, not calendar dependent. The main focus going forward will be macro in terms of interest rates, inflation and employment and wage growth.