The minutes of the March 15th Federal Reserve meeting released earlier today show the voting members of the Federal Open Market Committee conflicted over the question of further stimulus spending.
Ã¢â‚¬Å“A few participants indicated that economic conditions might warrant a move toward less-accommodative monetary policy this year; a few others noted that exceptional policy accommodation could be appropriate beyond 2011,Ã¢â‚¬Â read the minutes of the meeting. Ã¢â‚¬Å“Almost allÃ¢â‚¬Â Fed officials also saw no need to Ã¢â‚¬Å“taperÃ¢â‚¬Â Treasury buying after June, jettisoning their prior strategy of reducing the pace of purchases while stretching out their duration.
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