the taper continues

No surprises from the Federal Reserve Open Market Committee.The committee said it would take $10 billion off its monthly asset purchases. Interest rates to remain at 0 - .25%.

In the June minutes, the committee said it would conclude QE in its October meeting.

In the statement today, the FOMC said, "a range of labor market indicators suggests that there remains significant underutilization of labor resources." Translated: no significant job growth. Expect inflation to rise just a bit too.

For the full statement from the Fed, click here for the story which was the source for this entry.

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