The Fed begins stepping on the brakes
CNN
The Federal Reserve is finally hitting the brakes on its monthly asset purchases that supported the economy throughout the pandemic.
The central bank announced Wednesday that it will reduce the pace of monthly bond buying by $10 billion for Treasury Securities and $5 billion for agency mortgage-back securities.
That means the Fed will still buy at least $70 billion Treasury securities and at least $35 billion mortgage-backed securities every month this month. Starting December, these amounts will fall to at least $60 billion and at least $30 billion, respectively. This is what's known as tapering and was expected by investors and analysts.
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