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US Federal Reserve expected to speed up end of pandemic support
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The US Federal Reserve is expected to accelerate an end to the central bank’s pandemic-era support of the US economy on Wednesday night, in a major shift that could herald a series of interest rate rises next year.
The expected measures are a signal that US central bankers no longer view rising inflation as a “transitory” nuisance caused by supply chain problems meeting pent-up consumer demand, but an issue that now requires firm management to avert lasting damage to the US economy.
At the end of a two-day meeting in Washington, the Fed is anticipated to announce it will reduce its monthly $120bn (£90bn) spending on government bonds designed to lower long-term interest rates at twice the rate that chairman, Jerome Powell, outlined just six
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