Fed doubles pace of quantitative easing taper

Jerome Powell
Jerome Powell

The Federal Reserve doubled the pace of its quantitative easing taper today (December 15), saying it would cut its asset purchases by $30 billion a month in the face of rising inflation.

The Federal Open Market Committee’s statement emphasised that “the Federal Reserve is committed to using its full range of tools to support the US economy in this challenging time”.

The committee kept the federal funds rate unchanged in the range of 0–0.25%.

The FOMC had already reduced the rate of asset

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