Fed's post-QE2 debate underway: March 15 minutes (by Greg Robb)
WASHINGTON (MarketWatch) - The Federal Reserve began at its March 15 meeting to debate the possible course of monetary policy after the $600 billion bond-buying program ends in June, according to the minutes of the meeting released Tuesday. A few Fed members said that economic conditions might unfold in a way that would warrant the launch of an exit plan this year. At the same time, a few others noted that the Fed's ultra-low monetary policy may be appropriate "beyond 2011." There was a lengthy discussion of the prospects of inflation in the wake of the sharp increase in oil and food prices. In the end, several Fed officials said that their forecasts of inflation had "shifted somewhat to the upside." Economic growth appeared to be on "firmer footing," the Fed officials said.