Half of Fed Voting Members Expect End of QE in 2013

Federal Reserve officials are split on when to end the central bank’s controversial bond-buying program, according to minutes from a June meeting, released Wednesday.
“About half” of the 19 Fed “participants” expect the economy will improve enough to warrant an end to QE3 later this year.

But only 12 Fed officials get to vote on monetary policy at each meeting, and of those key “members,” “many” said they need to see further improvement in the job market before they’d be willing to start gradually winding down the stimulus program.
“Many members indicated that further improvement in the outlook for the labor market would be required before it would be appropriate to slow the pace of asset purchases.”

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza