Feb 20th 2013 2:30pm
Federal Reserve policymakers remain divided on the future of the central bank’s bond buying program, according to minutes of the January meeting of the Federal Reserve Open Market Committee released Wednesday. Some believe that the program may need to end prior to the achievement of the Fed’s announced goal of improvement in employment.
Fed officials announced on January 30th that they would continue to buy mortgage-backed securities at a pace of $40 billion per month and longer-term Treasury securities at a pace of $45 billion per month, a policy popularly known as quantitative easing. The Fed hasn’t said when these asset purchases will end. Instead, it has said that the purchases will continue if “the outlook for the labor market does not improve substantially.”