FOMC Minutes
Highlights
The debate within the Fed about potential additional policy actions has heated up according to the latest FOMC minutes. Many participants said more accommodation is needed unless there is substantial improvement in the economy. But participants also indicated that discussion of the costs and benefits of additional quantitative easing was useful. Some questioned the efficacy of a QE3. Many participants supported extending guidance but to wait for the September meeting for a decision.
On the news, equities rose modestly.
More detail coming. |