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.”
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