Fed Announces Slight Taper Plans

Following its much-anticipated two-day meeting, the Federal Reserve announced today that it will begin a moderate taper of its bond-buying program beginning in January.

The reason for the slight pullback is the reportedly moderate growth in economic activity, as seen in an improving labor market, a decline in the unemployment rate, and growth in household spending and the housing market. Inflation “has been running below the Committee’s longer-run objective.”