U.S. Federal Reserve Chairman Ben S. Bernanke prepares to speak at a luncheon meeting of the Economic Club of Washington on Dec. 7, 2009.Reuters/Jason Reed
The FOMC, the Federal Reserve's rate-setting committee, made no move on Wednesday to curtail its aggressive bond-buying progam, known colloquially as QE3, and it said it will continue to buy long-tem government bonds and mortgage-backed securities to stimulate U.S. growth.
Experts were split on whether or the not the Fed would curtail its purchases by trimming back, or "tapering," its purchases, in its efforts to put the markets and economy back on their own feet.
"The Committee decided to await more evidence that [economic] progress will be sustained before adjusting the pace of its purchases," the FOMC said in its statement announcing the decision.
