(CNN) – The Federal Reserve decided to continue winding down its massive bond-buying program after Ben Bernanke's final meeting as chairman Wednesday.
In a widely expected move, the Fed said it will reduce its bond-buying program to $65 billion in February.
The Fed had been buying $85 billion in bonds each month since September 2012 in an attempt to stimulate the economy. It began reducing the program this month, a process Wall Street has nicknamed "tapering."
This week marked Bernanke's last as chairman of the Central Bank, after serving eight years.
Current Vice Chair Janet Yellen is scheduled to take the helm and will preside over the next meeting in March.
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