Fed Leaves Stimulus Unchanged At $85 Billion, No Taper

@AFP
Fed Leaves Stimulus Unchanged At $85 Billion, No Taper

WASHINGTON (AFP) – The Federal Reserve on Wednesday left its $85 billion a month stimulus program in place, against broad expectations that it would reduce it as the economy grows.

Fed policy makers instead cut their growth forecast for this year and next, suggesting the economy is feeling the impact of government spending cuts and continues to struggle to break free from the Great Recession.

The Fed’s Federal Open Market Committee had been widely expected to begin reducing the bond-purchase program, aimed at pulling down long-term interest rates, after Fed Chairman Ben Bernanke predicted in May that the stimulus operation could be tapered late this year.

The FOMC said that although the economy appears to be holding up amid government “sequester” spending cuts, it “decided to await more evidence that progress will be sustained before adjusting the pace of its purchases.”

Photo Credit: AFP/Brendan Hoffman

Start your day with National Memo Newsletter

Know first.

The opinions that matter. Delivered to your inbox every morning

Mike Johnson
Speaker Mike Johnson

House Democratic leadership announced Tuesday that they’ll allow members to block any effort from Rep. Marjorie Taylor Greene (R-GA) and her tiny team of nihilists to oust Speaker Mike Johnson, a reminder of where the power sits in the House.

Keep reading...Show less
Trump Endorses Anti-Abortion Monitoring Of Pregnancy By States

Former President Donald Trump

Killing Abortion Ban Repeal

With little more than six months until Election Day, Donald Trump is preparing for an “authoritarian” presidency, and a massive, multi-million dollar operation called Project 2025, organized by The Heritage Foundation and headed by a former top Trump White House official, is proposing what it would like to be his agenda. In its 920-page policy manual the word “abortion” appears nearly 200 times.

Keep reading...Show less
{{ post.roar_specific_data.api_data.analytics }}