The Federal Reserve will wind down recovery program, and keep interest rate as is.  The Federal Reserve delivered a vote of confidence in the economy Wed.  They indicated they would slow the pace of an emergency rescue program as a recession appears to be ending.  So does that mean that some of the bail out money is going to go back and not be spent?  Nothing appeared in any of the articles I read.

The Central Bank also held a key bank lending rate at a record low near zero and again pledged to keep it there for an extended period.  Will this move allow banks to charge less for credit cards easing the burden on the consumer?  Again I saw no such bold move by any local or national bank.  It may mean that they can make good profit which will allow them to pay back the government. 

The Fed also noted Wed that the conditions in financial markets have improved.

For the first time in nearly two years, the Federal Reserve Board said it is taking a step toward unwinding the massive stimulus. 

The Fed stated it would gradually slow the pace of its program to buy $300,000,000,000.00 worth of treasury securities so it will shut down at the end of October.