Federal Reserve Chairman Ben Bernanke at the Federal Reserve Board Building in Washington, DC, June 19, 2013. The Fed's policy board kept its quantitative-easing program, aimed at holding interest rates down, locked in place for 2013, saying that unemployment remains high and growth is still being held back by government spending cuts. But Bernanke said that if growth continues to pick up pace, the Fed could begin reeling in the $85 billion-a-month in bond purchases sometime later this year, and bring the operation to a close by mid-year 2014.
The day that the world's investors have been dreading has arrived: The U.S. Federal Open Market Committee on Oct. 29 announced the end of its latest quantitative easing program, commonly known as QE3. Quantitative easing entails a central bank expanding the monetary supply through a bond-buying program. The end of...
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