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Fed Minutes: QE to continue at least until midyear

FXstreet.com (Barcelona) - Minutes from the Fed monetary policy meeting held on 19 and 20 Mach and unexpectedly released several hours earlier than scheduled, revealed that the FOMC members continued discussing the ongoing 85 billion dollar QE program and when should it be abandoned.

According to the minutes almost all of the Fed policymakers wanted to maintain the bond-buying program at least until the middle of 2013. There was no consensus however on how to proceed afterwards. “if the outlook for labor market conditions improved as anticipated, it would probably be appropriate to slow purchases later in the year and to stop them by year-end,” according to the official document.

The FOMC members did not see any significant changes in the economic outlook, although we have to bear in mind that the meeting took place before the unfavorable March employment numbers were released.

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