Fed makes it official: Quantitative un-easing process to begin in October

As expected, the Fed announced it will soon begin its quantitative un-easing plan in October. It will begin selling off its $4.5 trillion portfolio of bonds with just $4 billion in mortgage-backed securities per month, and increase it by $4 billion each quarter after that. As for the federal funds rate, the committee voted to hold off on raising it for now.