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Fed presents plan to cut bond purchases, signals inflation concerns

(Reuters) – The Federal Reserve signaled on Wednesday that it could start reducing its support for the U.S. economy in times of crisis by the middle of next month, with a growing number of its policymakers fearing that high inflation could persists longer than previously thought. Although no decision on a “taper” of the US central bank’s $ 120 billion monthly asset purchases was made at its September 21-22 policy meeting https: //www.reuters. com / business / finance / fed-likely-open- Bond-buying-taper-door-hedge-outlook-2021-09-22, “Participants generally felt that, provided the economic recovery remains on track overall , a phase-down process that ended around the middle of next year would likely be appropriate, according to the minutes of that meeting. While the economy is expected to grow this year at its fastest pace in decades With inflation well beyond the Fed’s comfort zone and the labor market well healed from the devastation of the coronavirus pandemic, Fed Chairman Jerome Powell and his colleagues want to start cutting back on the company’s buying program. bonds put in place by the central bank to stimulate the economic recovery after the coronavirus pandemic.