ISTANBUL
The US Federal Reserve (Fed) has announced it will slow down its long-running economic stimulus program as it expects the unemployment rate to continue improving.
It will reduce the amount of its bond purchases by 10 billion dollars, from 85 to 75 in total.
A Fed announcement published on Wednesday on its website says it expects that "economic growth will pick up from its recent pace and the unemployment rate will gradually decline" toward levels it deems consistent with its objectives of fostering maximum employment and price stability.
The US central bank has been cautious with its monetary policy adjustments so as not to cause a tremor in a still relatively fragile US economic landscape following the global crisis in 2009.
In September, Fed's announcement to hold off slowing down the program was greeted with an enthusiastic response from US and global markets. It is not clear how this new announcement will echo around the world, in developing countries in particular.
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