Fed Releases FOMC Minutes Early

The FOMC minutes were released early after being sent to 100 lobbyists. The tone of the minutes remains neutral and there are no clear hints of a change to the current QE program. Although it is under intense review.

Review of Efficacy and Costs of Asset Purchases
The staff provided presentations covering the efficacy of the Federal Reserve’s asset purchases, the effects of the purchases on security market functioning, the ways in which asset purchases might amplify or reduce risks to financial stability, and the fiscal implications of pur- chases. In their discussion of this topic, meeting partic- ipants generally judged the macroeconomic benefits of the current purchase program to outweigh the likely costs and risks, but they agreed that an ongoing as- sessment of the benefits and costs was necessary.

You can read the full minutes at the Fed’s website

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