Disagreement at the Fed Over Tapering

The Fed’s Meeting Minutes were released last week and they showed some disagreement between Fed members over the process or timing of tapering as some members thought it was appropriate to taper their purchases of both mortgage bonds and Treasuries, while other members thought they should only reduce their purchases of mortgage bonds. Further their minutes showed “that substantial further progress hasn’t been made yet.” Thus, they need to continue their massive bond buying spree.