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Steady stimulus taper 'likely': Fed minutes

Published on Apr 10, 2014 3:06 AM

WASHINGTON (AFP) - Federal Reserve policy makers expect to continue the steady cutback to its stimulus program, the minutes to their March 18-19 meeting showed Wednesday.

The members of the Federal Open Market Committee hedged their commitment on the performance of the economy, but the minutes show that, despite recent weakness, they remain on track to wind up the bond-buying program late this year.

Members of the FOMC agreed that "if the economy continued to develop as anticipated, the committee would likely reduce the pace of asset purchases in further measured steps at future meetings," the minutes said.

The group, led by new Fed Chair Janet Yellen, decided at the March gathering to make the third monthly US$10 billion (S$12.47 billion) cut in bond purchases since December, pulling the program down to US$55 billion.

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