Reduced Fed support reflected in January bond-buying plan

The Federal Reserve plans to purchase about $40 billion in longer-dated federal government debt in 18 operations in January, the New York Fed said on Monday, reflecting the U.S. central bank's decision to trim its support for the economy. In what came as a surprise to some investors, the Fed this month decided to cut its bond-buying program, known as quantitative easing, by $10 billion to $75 billion per month. It reduced both Treasuries and mortgage bond purchases by $5 billion each.

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