Daily Archives: February 20, 2013

Robin Harding

The minutes of the Fed’s January meeting do not suggest that QE3 is about to stop – indeed they reaffirm ongoing asset purchases – but they do make it hard to believe that buying at a pace of $85bn a month really is open-ended.

Compared with the December minutes, which had people wanting to continue QE3 until the end of 2013 or stop well before then, January reads like a deliberate attempt to be less clear about when asset purchases will end. The December discussion came from voting members, January is just participants; December referred to dates, January does not. Read more