Ticker: Fed winding down bond buys; DoorDash boosting safety for drivers

The Federal Reserve will begin dialing back the extraordinary economic aid it’s provided since the pandemic erupted last year in response to high inflation that now looks likely to persist longer than it did just a few months ago.

In a statement Wednesday, the Fed said it will start reducing its $120 billion in monthly bond purchases in the coming weeks, by $15 billion a month, though it reserved the right to change that pace. Those purchases have been intended to hold down long-term interest rates to spur borrowing and spending.

With the economy recovering, that’s no longer needed.

The central bank will slow its $80 billion in Treasury purchases by $10 billion a month and its $40 billion in mortgage bonds by $5 billion in November and December and said similar reductions “will likely be appropriate” in the following months.

DoorDash boosting safety for drivers

DoorDash is adding security features to its app to help protect drivers.

The San Francisco-based delivery company said Wednesday it’s partnering with security company ADT on the new features, which will be available to all U.S. DoorDash drivers by the end of this year.

Under the new system, DoorDash drivers who are feeling unsafe can connect to an ADT agent using a button in DoorDash’s app. The agent will stay on the phone until the driver feels comfortable; if the driver stops communicating, ADT will call 911.

DoorDash is also adding an emergency-assistance button to its app, which drivers can swipe to let ADT know they need immediate help. ADT will contact 911 and then remain in touch with the driver via text messages.

from Boston Herald https://ift.tt/3mGXQqE