The US Federal Reserve has indicated that it might begin cutting back its fiscal stimulus package during the coming months, according to the minutes released on Wednesday by the central bank.

Federal officials held discussions over reducing the bond-buying program in the world's largest economy. The central bank of the world's largest economy did not say as to when the quantitative easing might be reduced but the move is expected in the coming months. Investors believe that the central bank would soon start cutting back its economic stimulus package for the country.

Federal Reserve officials have said that the US economy has been recovering strongly and this might convince the central bank in the country to consider cutting back its fiscal stimulus package. The US economy is showing strong recovery following labor market improvements and stronger-than-expected growth in the third quarter growth.

The Fed is buying $85 billion a month in Treasury bonds and mortgage-backed securities, which helped secure the markets for years following the financial crisis. Financial markets had expected the Fed to begin to taper the purchases in September but the central bank delayed its decision to allow economy to record stronger growth.