Fed to begin slowing economic aid as inflation worries rise

THE FEDERAL RESERVE announced Wednesday that it will will start reducing its $120 billion in monthly bond purchases in the coming weeks, by $15 billion a month. Above, Fed Chair Jerome Powell. / AP FILE PHOTO/SARAH SILBIGER
WASHINGTON (AP) – The Federal Reserve will begin dialing back the extraordinary economic aid it's provided since the pandemic erupted last year, a response to high inflation that now looks likely to persist longer than it did just a few months ago. In a statement Wednesday after its latest policy meeting, the Fed said it will start…

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