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9/10, 12:38 PM (Source: TeleTrader)
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Report: Fed to scale down bond buying in November

Members of the United States Federal Reserve are planning to reduce the institution's bond-buying in order to start cutting back on its easy-money policies, heavily used amid the crisis caused by the COVID-19 pandemic, in November, the Wall Street Journal (WSJ) reported on Friday.

According to sources familiar with the matter, the Fed is planning to scale down those policies by the middle of the next year and thus facilitate an increase in interest rates.

The report comes after Fed Bank of Atlanta President Raphael Bostic told the same magazine he believes the country's economy will be able to function without the institution's bond-buying aid.

Breaking the News / JR