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FOMC scraps Evans Rule, continues tapering

March 25, 2014

Reg Clodfelter

At its first meeting under the leadership of Janet Yellen, the Federal Open Market Committee decided to continue its tapering of quantitative easing by $10 billion and to update its forward guidance policy to no longer recognize the 6.5 percent lower threshold for unemployment, known as the Evans Rule, that would determine how long the Federal Reserve would continue to suppress interest rates. Both of these results were expected.

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