The Federal Reserve moved to reduce its unprecedented economic stimulus program by $10 billion per month – $5 billion from treasuries and $5 billion from mortgage-backed securities – as the central bank’s policy-making arm determined the U.S. economy is growing at a strong enough clip to allow for it to begin to pull back. Ben Garber, economist at Moody’s Analytics, explains to TheStreet’s Joe Deaux what the taper means.
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