Federal Reserve updates
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Federal Reserve officials are expected to next week send a clearer signal about plans to begin phasing out pandemic-era stimulus as early as November as US consumers continue to power the economic recovery.
The policy-setting Federal Open Market Committee convenes on Tuesday for a two-day meeting that should shed light on the fate of the enormous bond-buying programme it put in place last year to stabilise financial markets and shore up the economy.
The details will be accompanied by a fresh set of projections for growth, unemployment and inflation and, most importantly, individual expectations for when interest rates may begin to rise from today’s near-zero levels.
Jay Powell, the Fed chair, said last month that he believes a move to reduce or “taper” those purchases by the end of the year could be “appropriate” if the…