U.S. Federal Reserve to start scaling back stimulus in JanuaryUpdated: 2013-12-19 (KST)
We start with the U.S. Federal Reserve's decision to reduce by ten billion dollars its monthly bond-buying program beginning in January, citing stronger economic conditions in the U.S.
Fed Chairman Ben Bernanke said the central bank will scale back stimulus to 75 billion dollars a month and further taper the pace next year if the economy continues to pick up.
To soften the blow on financial markets, the Fed also reiterated its commitment to record-low short-term rates.
It will hold its key rate near zero well after the jobless rate falls below six-and-a-half percent.
The announcement comes a little over a month before Bernanke steps down from his post as Fed chairman.
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