Arab Today, arab today fed cuts back bondbuying programme revises guidance on lending rates
Last Updated : GMT 04:04:01
Arab Today, arab today
Arab Today, arab today

Fed cuts back bond-buying programme, revises guidance on lending rates

Arab Today, arab today

Arab Today, arab today Fed cuts back bond-buying programme, revises guidance on lending rates

Washington - UPI

The Federal reserve has discarded the jobless rate threshold for considering when to raise borrowing costs and will also scale back its bond-buying program. During the second day of the Federal Open Market Committee, the dollar continued to post gains after the Fed announced that it would scale back its bond purchases by $10 billion to $55 billion. The announcement had little effect on the bond market, with the benchmark 10-year Treasury at 2.76 percent, up about 0.07 percentage points. U.S stocks reacted negatively to the Fed's announcement, with the Dow Jones Industrial Average, which had been up around 7 points, sliding to a 150 point loss around 3:15 p.m. One major takeaway from the Fed's announcement was that interest rates will remain low for the foreseeable future. By keeping its rate close to zero, the Fed is hoping to help boost the economy -- even as it reduces its bond-buying program. But the Fed dropped its previous yardstick, an unemployment rate of 6.5 percent, and said that it would will look at a wide range of data to determine when to increase rates. The unemployment rate is currently at 6.7 percent and has fallen sharply from the 26-year high of 10 percent it reached in October 2009 after the financial crisis. In 2012, the Fed linked interest rates to unemployment and inflation for the first time, saying interest rates would be low as long as unemployment was higher than 6.5 percent and inflation was no more than 2.5 percent.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today fed cuts back bondbuying programme revises guidance on lending rates Arab Today, arab today fed cuts back bondbuying programme revises guidance on lending rates

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today fed cuts back bondbuying programme revises guidance on lending rates Arab Today, arab today fed cuts back bondbuying programme revises guidance on lending rates

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
Arab Today, arab today Sally Shaheen considers hosting a political show
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday