7/7, 8:05 PM (Source: TeleTrader)
more TeleTrader news

Conditions for tapering could be met earlier than expected - FOMC minutes

According to the United States Federal Open Market Committee (FOMC) June meeting minutes released on Wednesday, some officials said the requirements for the beginning of easing of Federal Reserve's asset purchases could be met earlier than previously expected.

However, other participants noted that current economic data is not clear enough to determine the real state of the labor market and inflation and urged the FOMC to "be patient in assessing progress toward its goals and in announcing changes to its plans for asset purchases."

Additionally, "substantial further progress" toward the Fed's maximum employment and price stability goals has not been met yet to initiate tapering of asset purchases, a majority of the central bank's policymakers commented.

Breaking the News / MS