(ANSA) - NEW YORK, NOVEMBER 03 - The Fed leaves interest rates unchanged and announces the start of tapering, or the reduction of asset purchases starting from November.
The cost of money remains between 0 and 0.25%.
Inflation is high due to factors that are expected to be temporary, says the Fed and the road to recovery "continues to depend on Covid": risks continue to weigh on the outlook.
The Fed is ready to "adjust" the speed of tapering, or the process of reducing asset purchases that will start in November with a total drop in purchases of 15 billion dollars.
During this month, the Fed will purchase at least 70 billion US Treasuries and 35 billion mortgage-backed securities, down from $ 120 billion in October purchases.
"In December, the Fed will buy 60 billion in Treasuries and 30 billion in mortage-bakedsecurity", reads the note released by the Fed at the end of the two-day meeting.
(HANDLE).