The Federal Reserve is getting ready to roll back its massive stimulus | WHAT REALLY HAPPENED X-Frame-Options: DENY X-Frame-Options: SAMEORIGIN

The Federal Reserve is getting ready to roll back its massive stimulus

The Federal Reserve isn't ready to take its foot off the stimulus gas pedal just yet, but that soon might change.

If the economic recovery continues to progress as expected, the Fed "judges that a moderation in the pace of asset purchases may soon be warranted," according to the bank's policy update published Wednesday.

This raises the prospects of a November announcement that it will step on the brakes. But even if such a move was delayed until December or January, it wouldn't matter much to markets, which have already priced in a policy change, said Seema Shah, chief strategist at Principal Global Investors, in emailed comments.

The Fed could also lift interest rates as early as next year, according to updated projections, as opposed to waiting until 2023 as previous forecasts called for.

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