Federal Reserve to reduce stimulus
WASHINGTON- The Federal Reserve will cut monthly bond buying by another $10 to $65 billion because the U.S. economy is getting stronger.
The Fed is proceeding despite the prospect of higher interest rates in the U.S. and rattling overseas markets.
The Fed contends it will try to keep short-term interest rates at record lows.
A lot of investors fear reducing the bond buying will make interest rates shoot up and force them out of emerging markets and into stocks in the U.S. for higher returns.