FOMC Minutes Show Additional Easing Discussed

Some Federal Reserve policy makers said the central bank should consider easing policy further, according to minutes of their Nov. 1-2 meeting. “A few members indicated that they believed the economic outlook might warrant additional policy accommodation,” the Fed said in minutes released today in Washington. “It was noted that any such accommodation would likely be more effective if it were provided in the context of a future communications initiative.” The central bank also considered changing its pledge to hold interest rates near zero through at least mid-2013, as “a few members expressed interest in using language specifying a period of time during which the federal funds rate was expected to remain exceptionally low, rather than a calendar date, arguing that such language might be better to indicate a constant stance of monetary policy over time,” the minutes said.

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