US Fed Reserve announces rollback of stimulus package

The US Federal Reserve decided to keep the target range for the federal funds rate at 0 to 1/4 percent and has announced the rollback of their stimulus package, Report informs citing FOMC statement issued by results of the session held in September 21-22.

According to Bloomberg, the decision was in line with the predictions of the market participants and analysts.

The Committee said they will continue to increase their holdings of Treasury securities by at least $80 billion per month and of agency mortgage‑backed securities by at least $40 billion per month until substantial further progress has been made toward its maximum employment and price stability goals.

FOMC said it seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run.