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Brady Statement on FOMC Decision to Continue Moderate Tapering

From a stimulus standpoint, the Fed is down to only serving two desserts to Wall Street after each meal, but it must not waiver or delay in normalizing monetary policy,” Brady says

Jun 18 2014

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Washington, D.C. –  Rep. Kevin Brady (R-TX), chairman of the congressional Joint Economic Committee, today applauded the decision by the Federal Reserve’s Federal Open Market Committee (FOMC) to continue tapering its large-scale asset purchase program by reducing its purchase of long-term Treasury securities by $5 billion and reducing its purchase of agency mortgage-backed securities by $5 billion.

 

Chairman Brady said, “It is encouraging that the Fed, notwithstanding caveats in its statement, is staying the course on its path toward ending its Quantitative Easing Program. I wish the purchases would end sooner, and I wish the Fed would stop reinvesting the principal payments from its holdings in more agency mortgage-backed securities; but the Fed is slowly moving in a better direction.”

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