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Federal Reserve Announces Another $10 Billion Cut to QE3

January 29, 2014


    Federal Reserve Announces Another $10 Billion Cut to QE3

    Federal Reserve Announces Another $10 Billion Cut to QE3; Stocks Plummet While Gold Jumps

    The Federal Reserve failed to surprise the markets today after announcing their unanimous decision to continue cutting their current money-printing campaign, known as QE3, by another $10 billion per month. This brings the Fed’s monthly bond purchases down to $65 billion in February from $75 billion in January. The Fed was apparently unfazed by last month’s dismal U.S. unemployment report and totally ignored the recent price dip impacting emerging markets over the last couple of weeks. This was Ben Bernanke’s final policy meeting after eight tumultuous years as Fed chief. Tomorrow, he will hand the reins over to Janet Yellen. Stocks reacted negatively to both the tapering news, and negative profit forecasts, with all three of the major U.S. indices falling by over 1%. Meanwhile, gold prices rose over 1% on the Fed decision.

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    Financial Freedom Bootcamp 2014 : Part 3
    Broadcast Every Saturday Morning – Hosted by Jerry Robinson

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    “A Daily Dose of Financial Wisdom from God’s Word”

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