US Fed pulls stimulus

Ben Bernanke has decided to resign from his position as Chairman of the US Federal Reserve and to reduce stimulus payments.

He pares down the plan to pump 85 billion euros into the US economy years ago in order to dull the effects of the Great Recession. The stimulus reduction will happen slowly. Starting in January, it will be cut by 10 billion euros per month. On this news, the dollar posted gains yesterday, which means that Spanish exports will yield more profits.

Starting to reduce the amount of stimulus payments shows that the Fed believes a recovery is night and the job market will improve. But the Fed and England's central bank will still keep interest rates near 0%. This is good news for 2014.