The Federal Reserve moved closer to ushering out its massive quantitative easing program Wednesday, announcing that it would reduce its monthly stimulus by $10 billion.

With Wednesday’s decision, which was widely expected, the size of the central bank’s monthly purchases of Treasuries and mortgage-backed securities have been reduced from $85 billion in December to $35 billion.

Recommended Stories

The growing threats that make the Space Force essential

Marc Elias has hand in major election lawsuits this midterm, including Mary Peltola certification fight

Stevens on el Sayed split: ‘This is a broader point about what’s going on in our party’