Fed slows asset purchases to $45 billion a month
FOMC reiterates asset purchases are 'not on a pre-set course'
The Federal Reserve said yesterday it would slow the pace of monthly asset purchases, also known as quantitative easing, in May from $55 billion to $45 billion.
"The [Federal Open Market] Committee (FOMC) will add to its holdings of agency mortgage-backed securities at a pace of $20 billion per month rather than $25 billion per month, and will add to its holdings of longer-term Treasury securities at a pace of $25 billion per month rather than $30 billion per month," the bank said in a statement
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