+ Most Fed officials believe that inflation has reached its target. However, the labor market needs further improvement.
+ The Fed has been discussing reducing stimulus, and will likely begin cutting its bond-buying program and buying "proportional" mortgage-backed securities (MBS) at the same time on Last year.
But the Minutes also show that policymakers are still somewhat conflicted about the pace of shrinking asset purchases, with "many" of them wanting to make sure the Bond buying ends before interest rates rise. productivity may be needed to get started and “some” prefer a gradual approach.
+ Some Fed policymakers have advocated a faster reduction in MBS purchases than Bonds purchases out of concern that they could fuel an unsustainable boom in the housing market. But the Minutes show no strong support for that approach.
With regard to the rate of decline associated with any future changes in interest rates, participants said the standards for adjusting the Fed's benchmark interest rate were "different" from those for lowering interest rates. gradually. They said the timing of those actions would depend on "the evolution of the economy."
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