Fed likely to open bond-buying ‘taper’ door, but hedge on outlook

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By Howard Schneider WASHINGTON (Reuters) – The Federal Reserve is expected to clear the way on Wednesday for reductions to its monthly asset purchases later this year and show in updated projections whether higher-than-expected inflation or a resurgent coronavirus pandemic is weighing more on the economic outlook. Fed policymakers, who are wrapping up their latest two-day meeting, have been handed a conflicting set of developments since late July – signs of a slowdown in the service sector, a COVID-19 surge that has eclipsed that of last summer and weak job growth in August, all alongside stil…

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