Some Federal Reserve officials argued that the US central bank should chart a path towards curtailing some of its vast monetary support to the economy if the recovery accelerates further.
According to minutes of the Federal Open Market Committee’s meeting in late April, officials generally said the US economy remained “far” from its twin goals of full employment and price stability, and still required very loose monetary policy. But several argued that the time might come relatively soon this year for the Fed to change its stance.
“A number of participants suggested that if the economy continued to make rapid progress toward the committee’s goals, it might be appropriate at some point in upcoming meetings to begin discussing a plan for adjusting the pace of asset purchases,” the minutes said.