Fed set to increase rate in December, NASDAQ at 6456

The Wall Street bull is seen in the financial district in New York, U.S., March 7, 2017. REUTERS/Brendan McDermid

 

WASHINGTON — Nearly a decade after the Federal Reserve embarked on an unprecedented effort to shore up the collapsing American economy, the central bank said on Wednesday that it would begin withdrawing some of the trillions of dollars it invested in the wake of the 2008 financial crisis.

The decision, while widely expected, is nevertheless a significant sign that the Fed is confident that economic growth and low unemployment will continue. In other words, the central bank believes that the American economy has emerged safely from the crisis.

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Credit:Yahoo Finance

 

 

 

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