WASHINGTON — The Fed will continue open-ended programs to purchase longer-term Treasuries at a rate of $45 billion per month and mortgage-backed securities at a $40 billion per month, the Federal Open Market Committee said in a statement released Wednesday following the FOMC's two-day meeting.

"The Committee is prepared to increase or reduce the pace of its purchases to maintain appropriate policy accommodation as the outlook for the labor market or inflation changes," according to its statement.

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