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Fed seen keeping options open on pace of bond buying
Federal Reserve policymakers will likely announce on Wednesday that they will keep buying bonds at a monthly pace of $85 billion, while keeping their options open to scale back the program later this year if the U.S. labor market continues to improve. Economic data since the 19 officials met in May has been mixed. Employment growth was steady and consumers kept spending despite the drag of tax hikes and government spending cuts. But inflation slowed further beneath the Fed's 2 percent target. The policy-setting Federal Open Market Committee will announce its decision at 2 p.m. EDT Fed Chairman Ben Bernanke will hold ... (full story)