Fed, Confident in Economy, Details End of Bond-Buying Program

The New York Times: WASHINGTON — The Federal Reserve said on Wednesday that it planned to stop adding to its bond holdings in October, in a sign of its confidence that the economy is gaining strength even as the central bank gradually withdraws its support.

The decision, described in an account of the Fed’s most recent policy-making meeting in June, signals the end of one of the central bank’s most aggressive efforts to stimulate the economy. The Fed, which started reducing its monthly purchases in January, said it planned to add a final $100 billion to its holdings of Treasuries and mortgage-backed securities over the next four months, for a total to $1.5 trillion.

Read article