Newsroom
October 28, 2014
FOMC expected to end tapering program
The Federal Open Market Committee is expected to issue a policy statement announcing the end of its tapering in the Federal Reserve's asset purchase program following the close of its two-day meeting today.
After its September meeting, the FOMC announced it would reduce the pace of asset purchases by $10 billion, to the current pace of $15 billion per month. NAFCU Chief Economist and Director of Research Curt Long said the committee's forward guidance on when it will raise interest rates in the future will be the main point of interest for this meeting.
"The Fed will likely be very cautious about altering the forward guidance," Long said. "Time and time again, Fed policymakers have stressed that their actions will be data-dependent, but if the past is any guide, markets will react strongly to any change in the language."
October has been expected to be the committee's target date for wrapping up the quantitative easing program.
After its September meeting, the FOMC announced it would reduce the pace of asset purchases by $10 billion, to the current pace of $15 billion per month. NAFCU Chief Economist and Director of Research Curt Long said the committee's forward guidance on when it will raise interest rates in the future will be the main point of interest for this meeting.
"The Fed will likely be very cautious about altering the forward guidance," Long said. "Time and time again, Fed policymakers have stressed that their actions will be data-dependent, but if the past is any guide, markets will react strongly to any change in the language."
October has been expected to be the committee's target date for wrapping up the quantitative easing program.
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