Fed completes the taper

Gary Cameron | Reuters The Federal Reserve building in Washington, October 28, 2014.

Gary Cameron | Reuters
The Federal Reserve building in Washington, October 28, 2014.

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The Federal Reserve was expected to end the third leg of quantitative easing at this week’s meeting. The U.S. central bank had been buying $15 billion a month in Treasurys and mortgage-backed securities as part of a program that had swelled its balance sheet past the $4.5 trillion mark.

Investors also expected the Fed to hold its short-term funds rate near zero.

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