Free Trial

MNI BRIEF: Fed Could Start $15B Per Month Taper in Nov-Minutes

WASHINGTON (MNI)

Federal Reserve officials discussed a plan to slow emergency support for the economy in either mid-November or mid-December at their Sept. 21-22 policy meeting at a USD15 billion per month pace, according to minutes of the gathering released Wednesday.

Fed officials are discussing when to slow down, or taper, the USD120 billion per month in Treasury and mortgage-backed securities. After their meeting, Fed officials said the plan could start "soon" and end by the middle of next year.

The minutes showed that officials discussed "an illustrative plan" to reduce the purchases by USD15 billion per month: Treasury purchases by USD10 billion and USD5 billion for MBS. Wile no decision was made, "several" Fed officials said they preferred to proceed at a more rapid pace.

MNI Washington Bureau | +1 202-371-2121 | evan.ryser@marketnews.com
MNI Washington Bureau | +1 202-371-2121 | evan.ryser@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.