Marathon’s Richards Says Fed to Cut Stimulus This Month
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The Federal Reserve will at its next meeting reduce its unprecedented stimulus to as little as $60 billion each month, according to Bruce Richards, chief executive officer and co-founder of New York-based hedge-fund firm Marathon Asset Management LP.
The tapering will begin this month with the U.S. central bank reducing its bond purchases to the annual equivalent of about $700 billion, Richards said today at the 19th Annual Alpha Hedge West Conference in San Francisco.