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Minutes from the Federal Open Market Committee (FOMC) September meeting indicate that the potential path of Fed tapering would feature monthly reductions in the pace of asset purchases of $10 billion in Treasury securities and $5 billion in agency mortgage-backed securities.

Job growth was weaker than expected in September, but the unemployment rate fell below 5% for the first time since March 2020. U.S. nonfarm payrolls increased by 194,000 in September, versus the consensus forecast of 500,000.