The Federal Reserve will keep its version of the monetary printing press running a while longer, though Chairman Ben Bernanke provided hints Wednesday that the days of extreme easing are coming to a close.
At a news conference, the central bank chief said if the economy continues to improve the asset-purchasing program could start winding down towards the end of 2013 and wrap up in 2014.
Markets sold off aggressively on the news, with major averages dropping more than 1 percent. The five-year Treasury note hit its highest yield since August 2011 while the benchmark 10-year note breached a 2011 high.
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Mingze Wu
centers on forex and macro-economic trends impacting the Asia Pacific region.
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