ECONOMICS COMMENTARY
Dec 19, 2013
Fed tapers as US outlook improves, removing one more global economic uncertainty
The US Federal Open Market Committee started tapering its asset purchases at its December meeting. Something that many overlooked - especially back in May, when talk of taper first appeared - is that the taper is not a tightening policy. It is merely a reduction in the pace at which the central bank is pumping money in to the financial markets. That total, which has been growing at $85bn every month since the Fed embarked on its third wave of Quantitative easing 15 months ago, will instead grow by $75bn per month from January onwards.
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