After phasing down its quantitative easing (QE) program all year the US Fed has finally ended it

After phasing down its quantitative easing (QE) program all year the US Fed has finally ended it. Monetary tightening still looks unlikely until mid-next year at the earliest and is contingent on further improvement in the economy and higher inflation. QE has worked - the US economy is now well into expansion mode and looking a lot stronger than Europe and Japan that have taken longer to adopt it. The ending of US QE is also positive for Australia as it is a sign that the world's biggest economy is better and removes a source of upwards pressure on the $A. Full details from our Chief Economist, Shane Oliver: (VIEW LINK)