July 31, 2013
Steady as she goes. The Federal Reserve will keep interest rates unchanged and keep buying $85 billion in bonds every month while the economy keeps improving at a “modest” pace, the central bank said Wednesday.
Amid a backdrop of gradually improving economic data and concerns of asset price inflation, the Fed provided no further clues after its policy meeting this week that it will be easing back the throttle on easy money.
No changes are imminent to interest rate, but the $85 billion monthly money-printing program known as quantitative easing will be trimmed back only if the data points continue to improve.