WASHINGTON — The Federal Reserve on Wednesday took another step in its effort to scale down a controversial bond buying program by an additional $10 billion.

Following through on its strategy to gradually reduce its pace of monthly purchases of mortgage and Treasury bonds, members of the Federal Open Market Committee voted to trim the amount of mortgage-backed securities and longer-term Treasury securities the Fed buys to $30 billion and $35 billion, respectively, following a two-day meeting.

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