U.S. Treasury yields were mixed early on Thursday, as investors continued to digest the Fed's latest policy decision.
The yield on the benchmark 10-year Treasury note fell less than a basis point to 1.4582% at 1:50 a.m. ET. The yield on the 30-year Treasury bond rose by less than basis point to 1.8627%. Yields move inversely to prices and 1 basis point is equal to 0.01%.
Following it's two-day policy meeting, the Fed announced Wednesday that it would be buying $60 billion of bonds a month starting in January. This is half the level it bought prior to the November taper and $30 billion less than in December.
The Fed was tapering by $15 billion a month in November, doubled that in December, and will accelerate the reduction further come 2022.
This would see the central bank wrap up its tapering program by late winter or early spring.
Fed officials expected as many as three rate hikes in 2022, according to the central bank projections released on Wednesday.
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Ron Temple, co-head of multi-asset and head of U.S. equities at Lazard Asset Management, said on Wednesday that with the economy "firing on all cylinders," the Fed was right to reduce its asset purchases.
However, he warned that the Fed should be "judicious" about when and how quickly it raises interest rates.
Temple explained that the labor market was still "far from fully recovered" and inflation was "below target nearly 90% of the last decade." He said the Fed should, therefore, "avoid snatching defeat from the jaws of victory in reaction to one year of uncomfortably elevated inflation."
In terms of data due out on Thursday, the number of jobless claims filed last week is due out at 8:30 a.m. ET.
November's building permits and housing starts data are also set to be released at 8:30 a.m. ET.
Markit's flash purchasing managers' index for December is then expected to come out at 9:45 a.m. ET.
Auctions are due to be held on Thursday for $30 billion of 4-week bills and $25 billion of 8-week bills.
— CNBC's Jeff Cox contributed to this market report.