The Federal Reserve is delivering a vote of confidence in the recovery, saying economic activity is "leveling out." The central bank also signaled that it would soon end one of its programs aimed at propping up the economy.
The Fed said it would gradually slow the pace of its program to buy Treasury securities so that it will shut down at the end of October, versus September. The program is aimed at lowering rates on mortgages and other consumer debt, a move to spur Americans to spend more.
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