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KPIX CBS Evening News With Scott Pelley December 19, 2013

With scott pelley. Reporting tonight from washington. Pelley good evening. Welcome to our western edition. Today after years of extraordinary measures to keep the economy from plunging into a depression, the Federal Reserve said it will now ease up on its stimulus program. The job market has improved that much. In the announcement made here in washington, the fed said it will cut the amount of government bonds that its been buying each month. That could lead to higher long term Interest Rates, including mortgages. Wall streets been anticipating this decision for months and when it came today stock prices soared. The dow gained nearly 300 points to close at 16,167 another record high. Anthony mason is in new york for us tonight. Anthony, what exactly is the fed doing . Reporter the fed will still be stimulating the economy, scott, but its cutting back the amount from 85 in bo ....

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