The Fed is leaving the Fed Funds rate near zero but it is cutting back its bond-buying program by $10 billion to $65 billion a month. And while this decision was not surprising, says Bill Irving, Portfolio Manager at Fidelity Investments, it does show that the Fed sees the economy improving despite some poor economic indicators earlier this month. It also shows that the Fed does not see the recent unease in emerging markets as a threat to the health of the overall U.S. economy.
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