FOMC Minutes Out
The Federal Reserve just released its minutes from its latest meeting, and the minutes showed that there was some disagreement about another round of quantitative easing.
The agreement passed 10-1. The Federal Reserve said that its progress towards its dual mandate was expected to remain slow. The Fed also discussed targeting long term interest rates.
At the meeting, the Federal Reserve debated how much of unemployment was structural.
The Fed now sees 2011 growth to 3.3%, which was down 55 basis points. It moved up its look on 2012 to 4.05%, up 5 basis points. It also showed its 2013 growth outlook, which is also 4.05%.
It also targeted the dollar, which is something that investors were anxious to see in the minutes, and it looks like it has.
