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US Federal Reserve pulls back on stimulus effort

http://www.bbc.co.uk/news/business-25436982

The US Federal Reserve has announced a slowdown in its effort to boost the US economy.

The central bank said it planned to scale back its $85bn (£51.8bn) a month bond buying programme by $10bn a month.

Stimulus of this kind is designed to lower interest rates and boost economic activity

The Fed’s governing committee cited stronger job growth as a reason for the decision to pullback its programme of bond buying.

The announcement followed a two-day meeting in Washington DC.

—snip—

‘Symbolic’

US markets cheered the news.

The Dow Jones surged to close up 292.71 points, or 1.84%. Both the Nasdaq and S&P 500 indexes were up over 1% as well.

That is partially because, while significant, the amount of the pullback in bond-buying was slightly less than expected.

“Ultimately this a very small amount - it’s symbolic rather than more substantive,” Steve Wood, chief market strategist at Russell Investments, told the BBC.

—snip—

Wall Street cheers as they find out the helicopter drops will continue "well beyond" the original 6.5% unemployment figure cut-off as previously planned, removing worries from money-manipulators that as the unemployment figures drop further(as thousands drop off the radar thru attrition/participation rate)they and their schemes will not be curtailed.

...big wheel keep on turn'n...gravy-train keep'on roll'in!

Merry ~~Christmas~~ Holiday!,

...from Ben's Family to ~~Yours~~ Ben's business ass ociates and their families!

...as for the rest of you...

"If they'd rather die, then they had better do it...and decrease the surplus population"