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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