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It’s been an up and down week on Wall Street, as investors turned their attention to the Federal Reserve’s policy setting meeting. Though taper talks have been on the table for some months, some were surprised when the Federal Reserve announced that it will begin scaling back its bond buying program next month. The central bank will now purchase $40 billion worth of Treasury bonds per month, and $35 billion worth of mortgage-backed securities – a $10 billion total reduction of purchases. In his press conference, Fed Chairman Bernanke was adamant, however, that asset purchases are not on a pre-set course and that the central bank will remain highly accommodative [see The Fed Effect: How Monetary Policy Impacts Your ETFs]. [click to continue…]

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