How reopening U.S. land border to vaccinated Canadians will impact Western New York economy

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Reuters

Fed lays out plan to reduce bond purchases, flags inflation worries

(Reuters) -The Federal Reserve signaled on Wednesday it could start reducing its crisis-era support for the U.S. economy by the middle of next month, with a growing number of its policymakers worried that high inflation could persist longer than previously thought. Though no decision on a “taper” of the U.S. central bank’s $120 billion in monthly asset purchases was reached at its Sept. 21-22 policy meeting https://www.reuters.com/business/finance/fed-likely-open-bond-buying-taper-door-hedge-outlook-2021-09-22, “participants generally assessed that, provided that the economic recovery remained broadly on track, a gradual tapering process that concluded around the middle of next year would likely be appropriate,” according to the minutes of that meeting. With the economy set to grow this year at its fastest pace in decades, inflation riding well above the Fed’s comfort zone and the labor market much healed from the devastation of the coronavirus pandemic, Fed Chair Jerome Powell and his colleagues want to start cutting back on the bond-buying program the central bank put in place to spur the economic recovery from the coronavirus pandemic.



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