We’ll finally see that the Fed has done nothing to help Main Street
By Manuel Hinds December 24, 2013
Manuel Hinds is El Salvador's former finance minister. He also has worked with the World Bank in the public and private sector. In 2010, he won the Manhattan Institute's Hayek Prize.
On Dec. 18, the Fed announced that in January it would start tapering its purchases of treasury bonds and mortgage-related securities by $10 billion a month, down from $85 to $75 billion per month. It also hinted that it would keep on tapering, possibly at a rate of $10 billion per meeting of the Federal Open Markets Operations Committee. The Fed also said that interest rates are unlikely to increase before the unemployment rate declines below 6.5%.