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Monday, December 09, 2019 {{ new Date().getDay() }}

Washington (AFP) – The Federal Reserve stayed the course on tapering its stimulus for the U.S. economy Wednesday, reducing its asset purchases by $10 billion for the second month in a row.

The Fed, as expected, cut the stimulus to $65 billion a month, while leaving its benchmark interest rate near zero, citing “growing underlying strength in the broader economy.”

Wrapping up the two-day monetary policy meeting of the Federal Open Market Committee, the last of outgoing Chairman Ben Bernanke, policy makers noted that despite some mixed economic indicators since the December FOMC meeting, overall the U.S. economy was doing better.

Information indicates “that growth in economic activity picked up in recent quarters,” the FOMC said in a statement.

“The Committee sees the risks to the outlook for the economy and the labor market as having become more nearly balanced,” it said.

Photo: AFP Photo/Brendan Smialowski

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Jeff Danziger lives in New York City. He is represented by CWS Syndicate and the Washington Post Writers Group. He is the recipient of the Herblock Prize and the Thomas Nast (Landau) Prize. He served in the US Army in Vietnam and was awarded the Bronze Star and the Air Medal. He has published eleven books of cartoons and one novel. Visit him at DanzigerCartoons.

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