When the Great Recession kicked off in 2008, the Federal Reserve announced a stimulus program that bought up bonds by the trillions.
In a symbolic move that underlines the confidence the Fed has in the U.S. economy, today the Federal Open Market Committee said it was staying the course and ending the third round of economic stimulus, known as Quantative Easing.
In a statement the FOMC explained:
"The Committee judges that there has been a substantial improvement in the outlook for the labor market since the inception of its current asset purchase program. Moreover, the Committee continues to see sufficient underlying strength in the broader economy to support ongoing progress toward maximum employment in a context of price stability. Accordingly, the Committee decided to conclude its asset purchase program this month."
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