Fed Speeds Up Stimulus Withdrawal, an Extra Headwind for Bitcoin

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According to a press release Wednesday, the Fed will double the tempo of tapering its month-to-month bond purchases, decreasing them by $30 billion each month till they’re fully wound down early subsequent yr. Under the Fed’s earlier plan, it might have withdrawn $15 billion of the stimulus each month to wind down this system by the center of subsequent yr. For many of the previous couple years, the Fed has been printing cash to purchase about $120 billion of bonds a month.