Fed Postpones “Tapering”

In what was apparently a big surprise, the Federal Reserve Board announced after its Open Market Committee meeting today that it would postpone “tapering”–a gradual reduction in bond-buying designed to stimulate the economy–for now, at least until near the end of the year. The stock market is jumping for joy, and Mr. Krugman will be very pleased.

If the president would announce he’s appointing Janet Yellen as the next chairman, this would be a very good week for the Federal Reserve Board.

Washington Monthly - Donate today and your gift will be doubled!

Support Nonprofit Journalism

If you enjoyed this article, consider making a donation to help us produce more like it. The Washington Monthly was founded in 1969 to tell the stories of how government really works—and how to make it work better. Fifty years later, the need for incisive analysis and new, progressive policy ideas is clearer than ever. As a nonprofit, we rely on support from readers like you.

Yes, I’ll make a donation

Ed Kilgore

Ed Kilgore is a political columnist for New York and managing editor at the Democratic Strategist website. He was a contributing writer at the Washington Monthly from January 2012 until November 2015, and was the principal contributor to the Political Animal blog.