FOMC effects taper starting mid-November

The U. S. Federal Reserve announced on Wednesday that it will start tapering its asset purchases program by $15 billion in mid-November.

The Federal Open Market Committee (FOMC) announced that it left the benchmark interest rate, the target range for federal funds, unchanged at 0%-0.25% as widely expected.

More importantly, the Fed decided to reduce its asset purchases by $15 billion per month.