The great unwinding: Fed begins slow demise of its post-crash stimulus
by Dominic Rushe from on (#32QE8)
The sell-off of its $4.5tn portfolio, bought to keep interest rates down after the financial crash, is as unprecedented as the stimulus programme that came before
The Federal Reserve has announced it will begin the great unwinding of the gargantuan stimulus programme it began close to a decade ago in the teeth of the worst recession in living memory.
As widely expected, the Fed voted to start reducing its portfolio starting in October, and kept interest rates at a range of 1% to 1.25%.
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