FOMC minutes: Taper could happen without labor improvement

|By:, SA News Editor

The Fed could slow its asset purchases even without improvement in labor markets, according to just-released minutes from the FOMC's October 29-30 policy meeting.

The committee also discussed actions to signal its intention to keep short-term rates low for a long time even with the taper - particularly a cut in the interest rate paid on excess reserves. Most thought the benefit of such an action to be small, other than as a signal of policy intentions.