FOMC Minutes Released Early; Some Members See QE Halting by Year End

April 10, 2013 9:10 AM EDT
The Federal Reserve released the minutes from their March 19-20 meeting at 9AM Wednesday versus the scheduled 2PM release after they were mistakenly sent to Congress and trade groups early. Some members saw a reduction in QE by mid-year with QE halting by year end.

Below is the part of the FOMC minutes traders are focusing on:

"A few members felt that the risks and costs of purchases, along with the improved outlook since last fall, would likely make a reduction in the pace of purchases appropriate around midyear, with purchases ending later this year. Several others thought that 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. Two members indicated that purchases might well continue at the current pace at least through the end of the year. It was also noted that were the outlook to deteriorate, the pace of purchases could be increased. In light of this discussion, the Committee included language in the statement to be released following the meeting in part to make explicit that the size, pace, and composition of its asset purchases were conditional not only on the likely efficacy and costs of those purchases, but also on the extent of progress toward the Committee's economic objectives."

The full minutes can be found here

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