Fed Taper Likely in 'Coming Months' on Better Data
Federal
Reserve officials said they might reduce their $85 billion in monthly
bond purchases "in coming months" as the economy improves, minutes of
their last meeting show.
Policy makers "generally expected that
the data would prove consistent with the Committee's outlook for ongoing
improvement in labor market conditions and would thus warrant trimming
the pace of purchases in coming months," according to the record of the
Federal Open Market Committee's Oct. 29-30 gathering, released today in
Washington.
The FOMC is considering how and when to reduce asset
purchases without triggering a rise in interest rates that could slow
economic growth and erode gains in the labor market. Their meeting
minutes show extensive discussion on how to increase the clarity of
their plans to hold interest rates near zero. They made no decisions on
those plans.
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