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US Fed to Scale Back Bond Purchases Starting January 2014

The U.S. Federal Reserve will start scaling back its monthly bond-buying program as early as next month. But the reduction will be gradual. The Federal Reserve has been buying $85 billion a month in government bonds in an effort to keep interest rates low and boost economic growth. As Mil Arcega reports, outgoing chairman Ben Bernanke says the stimulus is working. Ever since the U.S. central bank introduced the latest round of monetary stimulus 12 months ago, long-term...

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