The Fed is expected to announce end to bond-buying program as investors seek clues on first hike

• This week, the Federal Reserve is widely expected to announce the unwinding of its monthly bond-buying program, a measure it started to support the economy during the pandemic. However, the bigger story for markets is how the central bank will discuss inflation. 
• That’s because report after report of hotter-than-anticipated inflation has ramped up expectations that the Fed will fight the trend of higher prices by beginning to raise interest rates next year, about six months sooner than the last Federal Reserve forecast. 
• Economists expect the central bank to say after its 2-day meeting concludes Wednesday that it will begin winding down its $120 billion in monthly bond purchases by mid-November or December and end the program entirely by the middle of next year.

(Source: CNBC)