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Fed to Reduce Bond Purchases by $10B in January; Maintains Low Rates

December 19, 2013, 07:00 AM
Filed Under: Economy
Related: Federal Reserve

According to a Federal Reserve press release, "Beginning in January, the Committee will add to its holdings of agency mortgage-backed securities at a pace of $35 billion per month rather than $40 billion per month, and will add to its holdings of longer-term Treasury securities at a pace of $40 billion per month rather than $45 billion per month."

The Committee also reaffirmed its expectation that the current exceptionally low target range for the federal funds rate of 0 to 1/4 percent will be appropriate at least as long as the unemployment rate remains above 6-1/2 percent.

To read the full Federal Reserve press release, click here.







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