The decision, expected at the end of a two-day meeting of the Fed's policy-making committee, would cap a six-year period during which the central bank has expanded its holdings of Treasury and mortgage-backed securities to almost $4.5 trillion, from less than $1 trillion in mid-2008.
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The Fed has paused its stimulus campaign several times since the financial crisis only to conclude that the economy needed more help. But officials say they are confident that the current level of stimulus is sufficient. Through September, employers added an average of 227,000 jobs a month, and the unemployment rate has fallen faster than expected, to 5.9 percent.
The Fed next plans to enter a holding pattern, a final phase in which it will maintain the size of the bond portfolio and keep short-term interest rates near zero, until officials decide that the economy no longer needs the help.
For more than a year, a majority of Fed officials have pointed steadily to the middle of 2015 as the most likely time for a rate increase. Some officials want the Fed to explain more clearly how it will decide when the time has come. Others, however, are concerned that changes in the statement will be interpreted prematurely as evidence that the Fed is pulling back.
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Carl R. Tannenbaum, chief economist at Northern Trust, said he expected the Fed to wait at least until its next meeting, in December, before providing more guidance about its plans for interest rates. "I'll go way out on a limb and suggest that there will be no outward change in monetary policy," he said.
Mr. Tannenbaum added that he hoped the Fed would emulate the clarity of its retreat from bond-buying as it moved toward raising interest rates. "I do think this has been a success story," he said. "I'm hoping that when the time comes to raise interest rates that they'll do an equally clear job of foreshadowing that."