Fed's Taper Sends Mixed Message On Economy

Law360, New York (December 19, 2013, 7:15 PM EST) -- The Federal Reserve's Wednesday announcement that it would begin tapering its bond-buying program received a positive response from the markets, but a new promise to hold the federal funds rate at the current level even after unemployment dips below 6.5 percent revealed a continuing concern about lack of inflation.

The Fed said that starting in January, it would shrink the program from $85 billion per month to $75 billion per month, beginning the long process of winding down the stimulus. The plan includes purchasing $5 million...
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