Minutes From the Federal Reserve’s July Meeting Released Today
Today the Federal Reserve released the minutes from its July policy meeting, which showed disagreement among policymakers as to when to taper the Fed’s unprecedented $85 Billion per month bond-buying program. From The Associated Press:
A few policymakers said they wanted to assess more economic data before deciding when to scale back the central bank’s $85 billion a month in Treasury and mortgage bond purchases. Others said it “might soon be time” to slow the purchases, which have helped keep long-term rates near record lows.
Since the July meeting, a few Fed officials have suggested the central bank could slow the bond buying in September. By then, updated reports on employment and economic growth will be issued.
Most economists say a decision in September or December is most likely.
Fed policymakers did agree they wouldn’t raise the short-term interest rate they control from nearly zero at least until the unemployment rate fell to 6.5 percent. Several members even said they were willing to lower that threshold.
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