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

Policymakers discuss plan for 'gradual' cut in bond-buying

The Federal Reserve signaled on Wednesday it could start reducing its crisis-era support for the US 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 US central bank's $120 billion in monthly asset purchases was reached at its Sept. 21-22 policy meeting, "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.

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