Fed Sees Labor-Market Slack as It Trims Bond Buying
July 30 (Bloomberg) -- The Federal Reserve said slack in the labor market persists even as the economy is picking up, and it continued to trim monthly asset purchases that have pumped up its balance sheet to a record $4.41 trillion.
The Federal Open Market Committee tapered monthly bond buying to $25 billion, staying on pace to end their purchase program in October. Bloomberg's Peter Cook reports on Bloomberg Television's "Bottom Line." (Source: Bloomberg)