Fed to begin slowing economic aid as inflation worries rise


The federal reserve will begin dialing back the extraordinary economic aid it's provided since the pandemic erupted last year in a statement following its latest policy meeting the fed says it will start reducing its monthly bond purchases in the coming weeks the central bank plans to trim the amount by fifteen billion dollars a month from the current one hundred and twenty billion however that pace could change the move is a response to high inflation that now looks likely to persist longer than it did just a few months ago the bond purchases have been intended to hold down long term interest rates to encourage borrowing and spending but with the economy now recovering that's no longer needed Ben Thomas Washington

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