- Stocks fell more than 1 percent on Wednesday after Federal Reserve Chairman Ben Bernanke said the central bank would start to reduce its stimulus measures later this year if the economy is strong enough.
- Federal Reserve announced it may reduce its stimulus program with the goal of ending it in mid-2014.
- The Fed expects the economy, GDP to grow by at least 3.5% and unemployment down to 6.5% next year, thats why the Federal Reserve wants to slow down its stimulus because it looks like the economy is improving. This scared the investors and they all starting selling and thus the market is down today.
Categories: Capital Markets