Today, the Federal Reserve's monetary policymaking body, the Federal Open Market Committee (FOMC), shocked market participants and central bank observers by refraining from reducing the pace of monthly bond purchases it makes under the open-ended quantitative easing program it introduced exactly a year ago.
WASHINGTON — Even as consensus built within the Federal Reserve in June about the likely need to begin pulling back on economic stimulus measures soon, many officials wanted more reassurance the employment recovery was on solid ground before a policy retreat.
The surprise of the week was not the goofy ending to the cliff. It was the minutes from the Fed. The meeting in question took place on 12/12, just 23 days ago. Some very major announcements came as a result of that meeting. A new, and much more aggressive Fed policy was revealed. For the first time ever, the Fed set a target for when monetary policy would change.
Wall Street expects the Federal Reserve to announce the first reduction in the pace of monthly bond purchases it makes under its quantitative easing (QE) program at the conclusion of its FOMC monetary policy meeting Wednesday.
Submitted by F.F.Wiley of Cyniconomics Preparing For Bernanke’s Speech With A Short “Who Said It?” Quiz In case you missed the late announcement, Ben Bernanke is scheduled to deliver a speech on Wednesday afternoon, covering the Federal Reserve Bank’s track record through its 100 year history.
WASHINGTON (Reuters) - The Federal Reserve said on Wednesday that Fed Chairman Ben Bernanke would make a speech in Cambridge, Massachusetts, next week on the central bank's 100-year history, its policy record, lessoned learned and prospects for the future.
Then There is Bernanke, by Tim Duy: Lots of Fed chatter in the last week.
For openers, some background from
It decided on May 1 to keep buying at an $85 billion monthly pace, and
many economists say mixed economic data warrants keeping up the purchases