Highlights from FOMC Minutes: Fed Members Concerned About Economic Outlook Without Gov't Aid
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Some highlights from the FOMC minutes just released at 2pm ET:
- Fed members expressed uncertainty related to the economic outlook without government aid
- unemployment unlikely to fall "appreciably", but employment conditions "remained weak"
- some FOMC members were open to expanding mortgage-backed securities purchases
- some FOMC members wanted to taper asset purchases quickly
- economists at the Fed see unemployment falling to 9.25% by the end of next year and to 8% by the end of 2011
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