US FOMC Holds Fed Funds Steady and Reduces Monthly Asset Purchases by a Further $10 Billion

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Today, the Federal Open Market Committee (FOMC) met expectations and cut a further $10 billion from the pace of monthly asset purchases. Beginning in August 2014, the Fed will purchase $10 billion of agency mortgage-backed securities (MBS) and $15 billion of longer-term Treasuries per month, which will be down from



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