Federal Reserve

Federal Reserve to Slow Easy Money Program, Cut Down Bond Purchases By $10 Billion a Month

Currently purchasing $85 billion a month in government bonds

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The Federal Reserve said Wednesday it will modestly pare back its extraordinary easy-money program, citing recent momentum in the economy and job market.

It marks the first big step toward unwinding the massive stimulus the Fed has pumped into the economy since the 2008 financial crisis and Great Recession.