Date
23 August 2017

Stronger economic recovery triggers Fed tapering, Xinhua says

The United States Federal Reserve’s decision to scale back its monthly bond purchases reflects the central bank’s improved confidence over the nation’s economic recovery, Xinhua news agency reported. The Fed announced Wednesday that it will reduce its bond buying by US$10 billion each month starting January, setting market speculation to rest about the timing of the wind-down of its quantitative easing. The central bank said it will cut back on its monthly asset purchases from US$85 billion to US$75 billion. 

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