Some Fed officials edged toward policy debate in April, minutes show
A “number” of Fed officials appeared ready to begin considering changes to monetary policy based on continued rapid progress in the economic recovery, according to minutes of the U.S. central bank’s April meeting, but data since then may have already changed the landscape.
“A number of participants suggested that if the economy continued to make rapid progress toward the (policy-setting) 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 in the most overt reference yet to possible changes to the Fed’s crisis-fighting bond purchases and low interest rates.
But that view may have suffered a blow this month with the release of data showing job growth was anemic in April. Though inflation ticked higher, also a concern cited in the minutes, the addition of just 266,000 jobs…