Tue, Jul 16, 2013 4:22 PM EDT 1:09
A top Federal Reserve official said the Fed should begin to reduce its bond-buying program and bring it to a close "sometime in the first half of next year." Should the U.S. economy grow faster than expected, Kansas City Fed President Esther George also said it may be "appropriate" to reduce the bond-buying program at a faster pace. Stocks are moving lower on Wall Street after the latest batch of corporate earnings failed to impress investors. Coca-Cola fell 2 percent to $40.22, the biggest drop in the Dow Jones industrial average, after reporting a slump in soda sales in North America. The Dow was down 45 points, or 0.3 percent, to 15,437 Careful what you wish for, you just might get it. Equity investors hanging on Federal Reserve chief Ben Bernanke's every utterance have seen markets go on a wild ride in the past six weeks, only to wind up where they began.