Yellen: We Expect to End Asset Purchases at Next Meeting

The transcript discusses the improvement in labor market conditions since the program's inception and notes a reduced likelihood of inflation running below 2%. Consequently, the pace of asset purchases has been reduced, with plans to purchase $15 billion of securities per month starting next month. If the committee's expectations of labor market improvement and inflation reaching the 2% target are met, the program will conclude at the next meeting.

What has improved since the inception of the program?

• International trade agreements

• Housing market stability

• Stock market performance

• Labor market conditions

What is the new monthly rate of securities purchases starting next month?

• $25 billion

• $20 billion

• $15 billion

• $10 billion

By how much has the monthly rate of asset purchases been reduced?

• $5 billion

• $10 billion

• $15 billion

• $20 billion

What condition must be met for the program to end at the next meeting?

• Interest rates must decrease

• Labor market must show ongoing improvement

• Stock market must stabilize

• Inflation must exceed 3%

What is the committee's longer-run inflation objective?

• 1%

• 1.5%

• 2%

• 2.5%