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2021-11-04

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Why the Fed is winding down the party on Wall Street (and what it means for you)<blockquote>为什么美联储要结束华尔街的派对（以及这对你意味着什么）</blockquote>

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When the Fed eases off the stimulus pedal, borrowing could grow more expensive, making businesses pay more, which means less profit, which means Wall Street is...sad.<blockquote>简短的回答是：在过去的一年半里，资金基本上是免费的，这要归功于美联储的双管猎枪经济刺激方法——利率接近于零，并对债券进行大规模投资，使收益率保持在接近最低水平。当美联储放松刺激踏板时，借贷可能会变得更加昂贵，使企业支付更多费用，这意味着利润减少，这意味着华尔街……悲伤。</blockquote> For a more in-depth answer, read on!<blockquote>更深入的答案，请继续阅读！</blockquote> While it might sound somewhat academic, the results of the Fed's decision could have a huge impact on everyday people, especially those looking to buy a home or run a business.<blockquote>虽然这听起来有点学术化，但美联储决定的结果可能会对普通人产生巨大影响，尤其是那些希望买房或经营企业的人。</blockquote> The coronavirus crash<blockquote>冠状病毒崩溃</blockquote> To understand how we got here, let's flash back to March of 2020, when Covid-19 landed like a bomb on US shores. Businesses shut down, at least 20 million people lost their jobs in a single month, and Wall Street was in full-on panic mode. In just under a month, the S&amp;P 500 -- the broadest measure of Wall Street -- lost more than 30% of its value. If you were brave enough to peek at your retirement account during that time, it was a grim sight.<blockquote>为了理解我们是如何走到这一步的，让我们回到2020年3月，当时新冠肺炎像炸弹一样降落在美国海岸。企业倒闭，单月至少2000万人失业，华尔街陷入全面恐慌。在不到一个月的时间里，标普500——华尔街最广泛的衡量标准——的价值损失了30%以上。如果你有足够的勇气在那段时间偷看你的退休账户，那将是一个可怕的景象。</blockquote> As Congress bickered over what to do, the Federal Reserve essentially threw itself on top of the Covid bomb to prevent a total financial and economic collapse. It did that by buying government-backed debt — lots of it. Without getting too in the weeds about the Fed's balance sheet, the thing to understand here is that a big part of the central bank's job is to ensure stability, and it does that by controlling the amount of money sloshing around. By buying up debt, the Fed was essentially turning on a money spigot.<blockquote>当国会为该做什么争吵不休时，美联储基本上投身于Covid炸弹之上，以防止金融和经济全面崩溃。它通过购买政府支持的债务来做到这一点——大量的债务。在不涉及美联储资产负债表的情况下，这里需要理解的是，央行工作的很大一部分是确保稳定，它通过控制资金流动来实现这一目标。通过购买债务，美联储实际上是打开了一个货币龙头。</blockquote> And it has been keeping that up ever since, to the tune of about $120 billion a month in Treasury bonds and mortgage-backed securities.<blockquote>从那以后，它一直保持着这一水平，每月发行约1200亿美元的国债和抵押贷款支持证券。</blockquote> With that supply of easy money, investors came back from the brink in the spring of 2020. By April of that year, the stock market began to rebound, even as the broader economy faltered and the public health crisis worsened. That disconnect between Wall Street and Main Street persists in part because the Fed has kept interest rates near zero and assured investors it would continue its easy-money policy for as long as needed to get the economy back on track.<blockquote>有了宽松资金的供应，投资者在2020年春天从悬崖边回来了。到当年4月，股市开始反弹，尽管更广泛的经济步履蹒跚，公共卫生危机恶化。华尔街和主街之间的脱节持续存在，部分原因是美联储将利率保持在接近零的水平，并向投资者保证，只要经济重回正轨，它就会继续实施宽松货币政策。</blockquote> Pumping the brakes<blockquote>踩刹车</blockquote> Those debt purchases were emergency measures implemented to stave off calamity, and were always expected to be rolled back once it was clear the economy had enough momentum to recover from the short-lived but severe pandemic recession of 2020.<blockquote>这些债务购买是为避免灾难而实施的紧急措施，一旦经济明显有足够的动力从2020年短暂但严重的大流行衰退中复苏，人们总是预计这些措施将被取消。</blockquote> The good news is the economic recovery is chugging along as more people get vaccinated, return to work, and in many ways are resuming their pre-pandemic lives. That means it's time for the Fed to wind down, or taper, its debt purchases.<blockquote>好消息是，随着越来越多的人接种疫苗，重返工作岗位，并在许多方面恢复了疫情之前的生活，经济复苏正在突飞猛进。这意味着美联储是时候缩减或缩减购债规模了。</blockquote> It's a delicate process, and Fed Chairman Jerome Powell has until now been cautious, and at times cryptic, about how and when the taper might begin. Slamming the brakes would trigger an investor panic, but not slowing down would fuel inflation.<blockquote>这是一个微妙的过程，美联储主席杰罗姆·鲍威尔迄今为止对如何以及何时开始缩减规模一直持谨慎态度，有时甚至含糊其辞。猛踩刹车会引发投资者恐慌，但不减速会加剧通胀。</blockquote> Avoiding a 'taper tantrum'<blockquote>避免“锥度发脾气”</blockquote> The Fed is clearly trying to avoid a repeat of the so-called taper tantrum of 2013.<blockquote>美联储显然试图避免2013年所谓的缩减恐慌重演。</blockquote> At that time, the Fed triggered a panic by merely mentioning its plans to eventually scale back its Treasury bond purchases — a policy known as quantitative easing, or QE, which is just a fancy way to say pumping cash into the economy. The Fed began its QE policy in response to the 2008 recession, and investors got accustomed to the easy money.<blockquote>当时，美联储仅仅提到其最终缩减国债购买规模的计划就引发了恐慌——这一政策被称为量化宽松（QE），这只是向经济注入现金的一种奇特说法。为了应对2008年的经济衰退，美联储开始了量化宽松政策，投资者也习惯了宽松的货币政策。</blockquote> At the time, the mention of a future taper caught bond investors off guard, and they began selling en masse. Bond prices plummeted, which meant yields (which move inversely to prices) shot up.<blockquote>当时，提到未来缩减规模让债券投资者措手不及，他们开始集体抛售。债券价格暴跌，这意味着收益率（与价格成反比）飙升。</blockquote> High yields on bonds lead to higher mortgage rates. They make it more expensive for businesses to grow by taking on debt. That's very bad news for an economy in recovery, and exactly the scenario the Fed has sought to avoid this time around.<blockquote>债券收益率高导致抵押贷款利率上升。它们通过举债提高了企业发展的成本。对于正在复苏的经济来说，这是一个非常坏的消息，也正是美联储这次试图避免的情况。</blockquote> What happens now?<blockquote>现在会发生什么？</blockquote> The Fed announced Wednesday it would start reducing asset purchases by $15 billion a month, starting this month. If it keeps up that pace, the program would end fully by the middle of 2022.<blockquote>美联储周三宣布，将从本月开始每月减少150亿美元的资产购买。如果保持这一速度，该计划将在2022年中期完全结束。</blockquote> That news should come as no surprise to Wall Street, as the central bank has been signaling to investors for months that it would do just that before the end of the year.<blockquote>这一消息对华尔街来说并不意外，因为央行几个月来一直向投资者发出信号，表示将在年底前这样做。</blockquote> There was no immediate \"taper tantrum\" in the market following the Fed's announcement: In fact, the major stock indexes inched higher Wednesday afternoon, though stocks were moving only in modest ranges.<blockquote>美联储宣布这一消息后，市场并没有立即出现“缩减恐慌”：事实上，主要股指周三下午小幅走高，尽管股市仅小幅波动。</blockquote> By removing some emergency support for the economy, the Fed hopes it can get high inflation under control.<blockquote>通过取消对经济的一些紧急支持，美联储希望能够控制高通胀。</blockquote> The Fed will maintain its target interest rates near zero. And it said it's ready to slow the pace or reverse its tapering if the economic outlook changes.<blockquote>美联储将维持接近零的目标利率。该公司表示，如果经济前景发生变化，它准备放慢步伐或扭转缩减规模。</blockquote>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why the Fed is winding down the party on Wall Street (and what it means for you)<blockquote>为什么美联储要结束华尔街的派对（以及这对你意味着什么）</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy the Fed is winding down the party on Wall Street (and what it means for you)<blockquote>为什么美联储要结束华尔街的派对（以及这对你意味着什么）</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nCNN Business2021-11-04 13:51\n\n</h4>\n</header>\n<article>\nNew York (CNN Business)It's official: The Federal Reserve is winding down its aggressive pandemic-era stimulus measures, a process Wall Street nerds call \"tapering.\" But what, exactly, does that mean?<blockquote>纽约（CNN Business）官方消息：美联储正在逐步减少其在大流行时期激进的刺激措施，华尔街书呆子看涨期权正在“缩减”这一过程。但这到底意味着什么呢？</blockquote> The short answer: Money has essentially been free for the past year and a half, thanks to the Fed's double-barrel shotgun approach to economic stimulus — interest rates near zero and a massive investment in bonds that keeps yields near rock-bottom. When the Fed eases off the stimulus pedal, borrowing could grow more expensive, making businesses pay more, which means less profit, which means Wall Street is...sad.<blockquote>简短的回答是：在过去的一年半里，资金基本上是免费的，这要归功于美联储的双管猎枪经济刺激方法——利率接近于零，并对债券进行大规模投资，使收益率保持在接近最低水平。当美联储放松刺激踏板时，借贷可能会变得更加昂贵，使企业支付更多费用，这意味着利润减少，这意味着华尔街……悲伤。</blockquote> For a more in-depth answer, read on!<blockquote>更深入的答案，请继续阅读！</blockquote> While it might sound somewhat academic, the results of the Fed's decision could have a huge impact on everyday people, especially those looking to buy a home or run a business.<blockquote>虽然这听起来有点学术化，但美联储决定的结果可能会对普通人产生巨大影响，尤其是那些希望买房或经营企业的人。</blockquote> The coronavirus crash<blockquote>冠状病毒崩溃</blockquote> To understand how we got here, let's flash back to March of 2020, when Covid-19 landed like a bomb on US shores. Businesses shut down, at least 20 million people lost their jobs in a single month, and Wall Street was in full-on panic mode. In just under a month, the S&amp;P 500 -- the broadest measure of Wall Street -- lost more than 30% of its value. If you were brave enough to peek at your retirement account during that time, it was a grim sight.<blockquote>为了理解我们是如何走到这一步的，让我们回到2020年3月，当时新冠肺炎像炸弹一样降落在美国海岸。企业倒闭，单月至少2000万人失业，华尔街陷入全面恐慌。在不到一个月的时间里，标普500——华尔街最广泛的衡量标准——的价值损失了30%以上。如果你有足够的勇气在那段时间偷看你的退休账户，那将是一个可怕的景象。</blockquote> As Congress bickered over what to do, the Federal Reserve essentially threw itself on top of the Covid bomb to prevent a total financial and economic collapse. It did that by buying government-backed debt — lots of it. Without getting too in the weeds about the Fed's balance sheet, the thing to understand here is that a big part of the central bank's job is to ensure stability, and it does that by controlling the amount of money sloshing around. By buying up debt, the Fed was essentially turning on a money spigot.<blockquote>当国会为该做什么争吵不休时，美联储基本上投身于Covid炸弹之上，以防止金融和经济全面崩溃。它通过购买政府支持的债务来做到这一点——大量的债务。在不涉及美联储资产负债表的情况下，这里需要理解的是，央行工作的很大一部分是确保稳定，它通过控制资金流动来实现这一目标。通过购买债务，美联储实际上是打开了一个货币龙头。</blockquote> And it has been keeping that up ever since, to the tune of about $120 billion a month in Treasury bonds and mortgage-backed securities.<blockquote>从那以后，它一直保持着这一水平，每月发行约1200亿美元的国债和抵押贷款支持证券。</blockquote> With that supply of easy money, investors came back from the brink in the spring of 2020. By April of that year, the stock market began to rebound, even as the broader economy faltered and the public health crisis worsened. That disconnect between Wall Street and Main Street persists in part because the Fed has kept interest rates near zero and assured investors it would continue its easy-money policy for as long as needed to get the economy back on track.<blockquote>有了宽松资金的供应，投资者在2020年春天从悬崖边回来了。到当年4月，股市开始反弹，尽管更广泛的经济步履蹒跚，公共卫生危机恶化。华尔街和主街之间的脱节持续存在，部分原因是美联储将利率保持在接近零的水平，并向投资者保证，只要经济重回正轨，它就会继续实施宽松货币政策。</blockquote> Pumping the brakes<blockquote>踩刹车</blockquote> Those debt purchases were emergency measures implemented to stave off calamity, and were always expected to be rolled back once it was clear the economy had enough momentum to recover from the short-lived but severe pandemic recession of 2020.<blockquote>这些债务购买是为避免灾难而实施的紧急措施，一旦经济明显有足够的动力从2020年短暂但严重的大流行衰退中复苏，人们总是预计这些措施将被取消。</blockquote> The good news is the economic recovery is chugging along as more people get vaccinated, return to work, and in many ways are resuming their pre-pandemic lives. That means it's time for the Fed to wind down, or taper, its debt purchases.<blockquote>好消息是，随着越来越多的人接种疫苗，重返工作岗位，并在许多方面恢复了疫情之前的生活，经济复苏正在突飞猛进。这意味着美联储是时候缩减或缩减购债规模了。</blockquote> It's a delicate process, and Fed Chairman Jerome Powell has until now been cautious, and at times cryptic, about how and when the taper might begin. Slamming the brakes would trigger an investor panic, but not slowing down would fuel inflation.<blockquote>这是一个微妙的过程，美联储主席杰罗姆·鲍威尔迄今为止对如何以及何时开始缩减规模一直持谨慎态度，有时甚至含糊其辞。猛踩刹车会引发投资者恐慌，但不减速会加剧通胀。</blockquote> Avoiding a 'taper tantrum'<blockquote>避免“锥度发脾气”</blockquote> The Fed is clearly trying to avoid a repeat of the so-called taper tantrum of 2013.<blockquote>美联储显然试图避免2013年所谓的缩减恐慌重演。</blockquote> At that time, the Fed triggered a panic by merely mentioning its plans to eventually scale back its Treasury bond purchases — a policy known as quantitative easing, or QE, which is just a fancy way to say pumping cash into the economy. The Fed began its QE policy in response to the 2008 recession, and investors got accustomed to the easy money.<blockquote>当时，美联储仅仅提到其最终缩减国债购买规模的计划就引发了恐慌——这一政策被称为量化宽松（QE），这只是向经济注入现金的一种奇特说法。为了应对2008年的经济衰退，美联储开始了量化宽松政策，投资者也习惯了宽松的货币政策。</blockquote> At the time, the mention of a future taper caught bond investors off guard, and they began selling en masse. Bond prices plummeted, which meant yields (which move inversely to prices) shot up.<blockquote>当时，提到未来缩减规模让债券投资者措手不及，他们开始集体抛售。债券价格暴跌，这意味着收益率（与价格成反比）飙升。</blockquote> High yields on bonds lead to higher mortgage rates. They make it more expensive for businesses to grow by taking on debt. That's very bad news for an economy in recovery, and exactly the scenario the Fed has sought to avoid this time around.<blockquote>债券收益率高导致抵押贷款利率上升。它们通过举债提高了企业发展的成本。对于正在复苏的经济来说，这是一个非常坏的消息，也正是美联储这次试图避免的情况。</blockquote> What happens now?<blockquote>现在会发生什么？</blockquote> The Fed announced Wednesday it would start reducing asset purchases by $15 billion a month, starting this month. If it keeps up that pace, the program would end fully by the middle of 2022.<blockquote>美联储周三宣布，将从本月开始每月减少150亿美元的资产购买。如果保持这一速度，该计划将在2022年中期完全结束。</blockquote> That news should come as no surprise to Wall Street, as the central bank has been signaling to investors for months that it would do just that before the end of the year.<blockquote>这一消息对华尔街来说并不意外，因为央行几个月来一直向投资者发出信号，表示将在年底前这样做。</blockquote> There was no immediate \"taper tantrum\" in the market following the Fed's announcement: In fact, the major stock indexes inched higher Wednesday afternoon, though stocks were moving only in modest ranges.<blockquote>美联储宣布这一消息后，市场并没有立即出现“缩减恐慌”：事实上，主要股指周三下午小幅走高，尽管股市仅小幅波动。</blockquote> By removing some emergency support for the economy, the Fed hopes it can get high inflation under control.<blockquote>通过取消对经济的一些紧急支持，美联储希望能够控制高通胀。</blockquote> The Fed will maintain its target interest rates near zero. And it said it's ready to slow the pace or reverse its tapering if the economic outlook changes.<blockquote>美联储将维持接近零的目标利率。该公司表示，如果经济前景发生变化，它准备放慢步伐或扭转缩减规模。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://edition.cnn.com/2021/11/03/economy/powell-fed-tapering-explainer-november/index.html\">CNN Business</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://edition.cnn.com/2021/11/03/economy/powell-fed-tapering-explainer-november/index.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1158137293","content_text":"New York (CNN Business)It's official: The Federal Reserve is winding down its aggressive pandemic-era stimulus measures, a process Wall Street nerds call \"tapering.\" But what, exactly, does that mean?\nThe short answer: Money has essentially been free for the past year and a half, thanks to the Fed's double-barrel shotgun approach to economic stimulus — interest rates near zero and a massive investment in bonds that keeps yields near rock-bottom. When the Fed eases off the stimulus pedal, borrowing could grow more expensive, making businesses pay more, which means less profit, which means Wall Street is...sad.\nFor a more in-depth answer, read on!\nWhile it might sound somewhat academic, the results of the Fed's decision could have a huge impact on everyday people, especially those looking to buy a home or run a business.\nThe coronavirus crash\nTo understand how we got here, let's flash back to March of 2020, when Covid-19 landed like a bomb on US shores. Businesses shut down, at least 20 million people lost their jobs in a single month, and Wall Street was in full-on panic mode. In just under a month, the S&P 500 -- the broadest measure of Wall Street -- lost more than 30% of its value. If you were brave enough to peek at your retirement account during that time, it was a grim sight.\nAs Congress bickered over what to do, the Federal Reserve essentially threw itself on top of the Covid bomb to prevent a total financial and economic collapse. It did that by buying government-backed debt — lots of it. Without getting too in the weeds about the Fed's balance sheet, the thing to understand here is that a big part of the central bank's job is to ensure stability, and it does that by controlling the amount of money sloshing around. By buying up debt, the Fed was essentially turning on a money spigot.\nAnd it has been keeping that up ever since, to the tune of about $120 billion a month in Treasury bonds and mortgage-backed securities.\nWith that supply of easy money, investors came back from the brink in the spring of 2020. By April of that year, the stock market began to rebound, even as the broader economy faltered and the public health crisis worsened. That disconnect between Wall Street and Main Street persists in part because the Fed has kept interest rates near zero and assured investors it would continue its easy-money policy for as long as needed to get the economy back on track.\nPumping the brakes\nThose debt purchases were emergency measures implemented to stave off calamity, and were always expected to be rolled back once it was clear the economy had enough momentum to recover from the short-lived but severe pandemic recession of 2020.\nThe good news is the economic recovery is chugging along as more people get vaccinated, return to work, and in many ways are resuming their pre-pandemic lives. That means it's time for the Fed to wind down, or taper, its debt purchases.\nIt's a delicate process, and Fed Chairman Jerome Powell has until now been cautious, and at times cryptic, about how and when the taper might begin. Slamming the brakes would trigger an investor panic, but not slowing down would fuel inflation.\nAvoiding a 'taper tantrum'\nThe Fed is clearly trying to avoid a repeat of the so-called taper tantrum of 2013.\nAt that time, the Fed triggered a panic by merely mentioning its plans to eventually scale back its Treasury bond purchases — a policy known as quantitative easing, or QE, which is just a fancy way to say pumping cash into the economy. The Fed began its QE policy in response to the 2008 recession, and investors got accustomed to the easy money.\nAt the time, the mention of a future taper caught bond investors off guard, and they began selling en masse. Bond prices plummeted, which meant yields (which move inversely to prices) shot up.\nHigh yields on bonds lead to higher mortgage rates. They make it more expensive for businesses to grow by taking on debt. That's very bad news for an economy in recovery, and exactly the scenario the Fed has sought to avoid this time around.\nWhat happens now?\nThe Fed announced Wednesday it would start reducing asset purchases by $15 billion a month, starting this month. If it keeps up that pace, the program would end fully by the middle of 2022.\nThat news should come as no surprise to Wall Street, as the central bank has been signaling to investors for months that it would do just that before the end of the year.\nThere was no immediate \"taper tantrum\" in the market following the Fed's announcement: In fact, the major stock indexes inched higher Wednesday afternoon, though stocks were moving only in modest ranges.\nBy removing some emergency support for the economy, the Fed hopes it can get high inflation under control.\nThe Fed will maintain its target interest rates near zero. And it said it's ready to slow the pace or reverse its tapering if the economic outlook changes.","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":869,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":6,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/848255342"}