Fed Ends Bond Buying Program, Pledges to Keep Interest Rates Low
Stocks end the day down after the Fed announced that they would end the bond buying program. Despite recent global economic troubles and continual volatility in the stock market the Fed has decided to end the bond purchasing program that began in 2008. The Federal Reserve believes that the bond buying program has greatly supported U.S. economic growth over the past 6 years, reducing its monthly purchases of bonds from $15 billion to zero. The Fed did however pledge to keep short-term interest rates near zero for a considerable time; it is expected that interest rates will rise in the mid-2015 time frame.
Word on the Street
- Fed ends 6-year stimulus.
- Apple (AAPL) and Alibaba (BABA) discuss possible partnership.
- 12 stocks that have erased their October losses.
- BlackBerry (BBRY) CEO teases new product.
- Lululemon (LULU) stirs up controversy once again.
- Ferrari and Fiat Chrysler (FCAU) to split.
- VASCO Data Security International (VDSI) jumps as earnings beat expectations.
Published on Oct 29, 2014By InvestorGuide Staff