On Wednesday, December 18th, the Federal Reserve announced plans to modestly reduce their monthly bond buying program $10 billion. As such, asset purchases will be reduced from $85 billion per month down to $75 billion. Chairman Bernanke shared the board’s expectations that economic growth could be strong enough to support further job gains. Fed policymakers said they would likely continue to trim the purchases in measured steps at future meetings. The Dow Jones Industrial Average soared 300 points on the announcement. As we enter 2014, this is always an opportune time to amend your monthly savings contributions for the new year. If you have any questions on 2014 contribution limits or adjustments to your accounts, please feel free to give us a call.
Merry Christmas & Happy New Year!