WASHINGTON -- The Federal Reserve Board on Wednesday continued to shrink its stimulus program by yet another $10 billion clip.

With a rebound in economic growth in recent months along with further improvements in the labor market , policymakers agreed to stay the course in paring back the pace of the central bank's monthly purchases of mortgage and Treasury bonds to $35 billion following its two-day Federal Open Market Committee meeting.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.