FOMC Minutes: QE ending in October

|By:, SA News Editor

The Fed is on track to end the taper and QE with a $15B cut in purchases in October. Up until that point, the $10B trimmings will continue.

As for an exit plan from the massive build-up of its balance sheet, the FOMC members generally agreed to continue reinvesting proceeds of maturing paper until after rate hikes begin. Officials also generally agree that the rate of interest paid on excess reserves will play a "central role" in tightening monetary policy.

A more detailed exit plan is set for later this year.

FOMC minutes from June 17-18 meeting