The Federal Reserve will end its monthly asset purchase program in October, ten months after it began the tapering process. After the requisite warning that “the current asset purchase program is not on a preset course,” the account revealed that the committee agreed “it would be appropriate to complete asset purchases with a $15 billion reduction in the pace of purchases in order to avoid having the small, remaining level of purchases receive undue focus among investors. If the economy progresses about as the Committee expects, warranting reductions in the pace of purchases at each upcoming meeting, this final reduction would occur following the October meeting.” http://www.forbes.com/sites/samanth...ts-a-date-to-end-its-monthly-asset-purchases/ ---------- There are many people on BB that think the stock market has been propped up by the Fed buying program, in fact, many think it is the ONLY thing that has caused the longish bull market. So what did the stock market do today after the policy decision to stop the purchasing program reached the press? Dow gained 79 points (.47%), NASDAQ up 27 points (.63%) and S&P500 up 9 points (.46%). So knocking out the supports causes the stock market to rise? In fact, the past several times the Fed has tapered the buying program the stock market has risen. Interesting theory, there. Maybe it is earnings that drives the stock market? Huh....And we are at the beginning of the earnings reporting season for Q2. Let's see what happens.