The US Federal Reserve was ready to slow down its QE3 programme of asset purchases in the summer or early autumn but weak payrolls data may already have changed its plans.
According to the minutes of its March meeting, released early on Wednesday after an accidental leak, “many” participants at the rate-setting Federal Open Market Committee said that continued labour market improvement should prompt a QE slowdown “at some point over the next several meetings”.
According to two sources in Congress, the accidental release came from Brian Gross, a special assistant to the Board of Governors who works on government relations.
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