As many expected, the Federal Reserve has decided to taper another $10 billion from its monthly bond-buying program. Wednesday’s decision follows the $10 billion reduction from last month and drops asset purchases down to $65 billion per month. Amid recent economic data, the Fed chose to continue their plan to exit monthly purchasing that initially…
Brace for it: Janet Yellen Confirmed as Fed Chair
After months of wondering, we finally have confirmation: Janet Yellen is the next chair of the Federal Reserve. Her first day is February 1, after Ben Bernanke completes his term this month. Votes were 56 to 26 in her favor on Monday, though many senators were absent because of the poor weather in Washington. Those…
Weak Economy Halts Taper Talk
To nobody’s surprise, the Federal Open Market Committee will continue its monthly bond-buying program due to a weak economy. With the labor market reporting its lowest gains in six months, the FOMC statement said the economy has maintained the same “moderate” pace reported in September. As a result, the $85 billion-per-month in asset purchases will be…
Surprise Announcement from Fed Sparks Metals Rally
Much to the world’s surprise, the Federal Reserve announced this past Wednesday that it would not be tapering its bond purchases, or what most of us know as Quantitative Easing. Many expected the Fed to announce a reduction of bond purchases from $85 billion a month, but when the announcement wasn’t what investors had expected,…
Fed Puts Tapering Plans On Hold
Precious metals had been dipping for days, but on Wednesday, commodities, stocks and bonds began to rally after the Federal Reserve’s decision to continue its $85 billion bond-buying program. With the economy improving slower than the Fed had hoped, policymakers voted to continue monthly purchases until progress of the economy could be sustained. Back in…
Summers Removes Name From Fed Consideration
Larry Summers has withdrawn his name from consideration for the Federal Reserve Chairman position. Current Fed chair Ben Bernanke is expected to step away when his term ends in January, and Summers was considered by many to be the favorite to replace him. Summers, an economic adviser for the White House and former Treasury secretary,…
