The bulk of the Federal Reserve's policy-setting committee is coalescing around a plan that would see the U.S. central bank start trimming its bond-buying program later this year, and reduce purchases of Treasury securities and mortgage-backed securities (MBS) 'proportionally' so they end at the same time.
U.S. one dollar banknotes are seen in front of displayed stock graph in this illustration taken February 8, 2021. REUTERS/Dado Ruvic/Illustration
Minutes from the Fed's July 27-28 meeting, which were released on Wednesday, showed policymakers remained somewhat at odds over how fast to taper the asset purchases, with "many" of them keen on making sure bond-buying ends before interest rate hikes may need to begin, and "several" preferring a more gradual approach.
"Most participants noted that, provided that the economy were to evolve broadly as they anticipated, they judged that it could be appropriate to start reducing the pace of asset purchases this year," according to the minutes.
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