No Heavy Blow.docVIP

No Heavy Blow 　　Starting from January 2014， the U.S. Federal Reserve （Fed） cut its monthly asset buying from $85 billion to $75 billion. To elaborate， the purchase of long-term government bonds has been scaled back from $45 billion to$40 billion and purchasing of mortgage-backed securities has been cut back from $40 billion to $35 billion. The Fed’s new move signaled a gradual withdrawal from the unconventional quantitative easing （QE） program， which was launched to support U.S. growth after the global crisis in 2008. The QE program aimed to bring down interest rates and encourage investment b