January FOMC Meeting Statement: Fed Tapers $10 Billion To $65 Billion

As expected, the U.S. Federal Reserve on Wednesday voted unanimously to reduce asset purchases on Feb. 1 by another $10 billion a month to $65 billion. The Fed said information received since the Federal Open Market Committee met in December indicates that growth in economic activity picked up in recent quarters, while labor market indicators were mixed but on balance showed further improvement, according to the statement from the Jan. 28-29 FOMC meeting.