Fed Tapers Bond Buying to $65B from $75B

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Jan. 29 (Bloomberg) –- On today’s “The Roundup,” Trish Regan, Adam Johnson, Olivia Sterns and Cory Johnson wrap up the day’s top market stories on Bloomberg Television’s “Street Smart.”

Let's move on to the roundup.

I'm going to start things off here for tomorrow's open -- the fed saying they will reduce monthly bond purchases to 65 billion from the previous $75 billion.

While holding the benchmark interest rate target at virtually zero.

Investors have sought a safe haven from emerging-market turmoil and you see rates fall as the fomc left unchanged statement that it would probably hold its target interest rate at zero, i like this language.

Well pass the time unemployment falls below 6.5% will stop this is mr.

Ben bernanke's last meeting as head of the federal reserve.

6.5% is not that far away.

This is why they made the adjustment.

The labor force participation rate is the lowest since the 70s. we are counting fewer people.

So that 6.7% number might be underestimating.

The people who give up and are not looking for jobs are not counted, and that's a problem.

Women and part-time workers.

I have somewhat of an issue with this because if you really need a job, are you going to say i'm giving up?

Wouldn't you still say i want to be included, i am looking?

Do you really say -- you must theoretically -- unless, god help us, there are folks were looking for four years and you haven't got a job, that's brutal.

Don't you just get to a point where he say i give up?

If you look at the kind of jobs we are creating, they are low-wage jobs.

Retail, part-time sector.

With a weaker labor market and that's why they are changing the target metric they're looking at.

So you see families having two people in the workforce to having one.

Families cannot live in the places they want to be because the jobs are out there.

You say women in the workforce and i may have talked about this with you before -- look at the trend entering 2008, you saw a lot of men are losing jobs and a lot of women working.

Now it seems to be the inverse where then are employed more than women.

It is an interesting phenomenon.

It's hard out there.

I don't care who you are, where you live or what you're doing, there's a lot of uncertainty.

We see companies that are not investing as much as they would like.

Caterpillar thing a nominal amount of reinvestment.

It's hard for everybody.

It is interesting to hear the conversation on what the legacy of ben bernanke will be.

He's getting a lot of credit for rescuing the u.s. economy but i found a note from the chief economist -- what is his name?

What kind of name is that?

He's very well known in london.

It's against the consensus -- he says the record of ben bernanke's fed is the worst of any central bank -- helicopter ben helped to inflate the big double between 2003 and 2007 as an influential fed governor and then as its chairman.

He was among the top decision- makers who mishandled the situation so badly that what would have been just an economic correction turned into the worst recession in the western world in 80 years.

He says since 2009, he gives him good marks but --

This text has been automatically generated. It may not be 100% accurate.

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