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The Federal Reserve cuts bond-buying program

The Federal Reserve is trimming its monthly bond purchases to $75 billion from $85 billion, taking the first step toward unwinding the unprecedented stimulus that Chairman Ben S. Bernanke put in place to help the economy recover from the worst recession since the 1930s.

The Fed’s purchases will be divided between $40 billion in Treasuries and $35 billion in mortgage bonds starting in January, Bernanke said.

http://www.bloomberg.com/news/2013-12-18/fed-cuts-qe-pace-to-75-billion-on-improved-job-market-outlook.html