What is tapering?

Due to my limited knoledge of English languge i can't fully understand what tapering means. I hear all these days about FED tapering.
Can some explain me in plain English what tapering means and how it does effect the markets?

Thanks in advance
Tim

Basically it is reducing measures intended to stimulate the economy.
Here's an article that explains it.

http://bonds.about.com/od/Issues-in-...he-Markets.htm

Actually Tapering is a term that exploded into the financial lexicon.it had been the one that received probably the most interest given it came up at a time which traders were currently focused on this possible market effect of a reduction in an insurance plan that was thus good pertaining to the two stocks as well as provides.

It was a term coined to get everyone to start buying $US at resistance and start selling the Pound at support....

made a lot of people lose a lot of money I suspect...

It's "tampering" with the M taken out

Tapering - reducing, limiting exposure, limiting..and something that's unfair to traders but business as norm for central banks and policy makers.
Does it have an impact on the spot market? Yes and since the fed announced that they are going to let things stay the way they are..you can see the impact on USD and USD crosses..