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Fed Confirms QE to End as Planned

Citing labor market improvements, FOMC completes wind-down of stimulus and contemplates when to raise interest rates.

By Jeff Kearns and Christopher Condon, Bloomberg | Updated on October 29, 2014

The Federal Reserve confirmed it will end an asset-purchase program that has added $1.66 trillion to its balance sheet, and the Fed maintained a pledge to keep interest rates low for a “considerable time.”

“Labor market conditions improved somewhat further, with solid job gains and a lower unemployment rate,” the Federal Open Market Committee (FOMC) said today in a statement in Washington. “A range of labor market indicators suggests that underutilization of labor resources is gradually diminishing,” the panel said, modifying earlier language that “there remains significant underutilization of labor resources.”

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