During the Federal Open Market Committee (FOMC) meeting the officials mostly have positive of the effect projected by the Fed`s latest bond-buying actions as it is obviosly helping the financial markets and recovery of the housing market.
FOMC members stated that the Operation Twist which is due to expire in December "would likely be appropriate next year after the conclusion of the maturity extension program in order to achieve a substantial improvement in the labor market".
FOMC assessment of the economic outlook was as that: "all but one member judged that maintaining the current, highly accommodative stance of monetary policy was warranted in order to foster a stronger economic recovery in a context of price stability".
FOMC members stick to calendar date to keep rates near zero until mid-2015. Although some members think it could lead to risky business.
The minutes also showed continued interest with a new approach to the Fed's communications policy, as "many" members favored the use of economic variables in their guidance, though "a number" favored qualitative triggers. However, the minutes indicated that the Fed would need to resolve a number of practical issues before deciding whether to adopt quantitative thresholds to communicate its thinking about the timing of the initial increase in the federal funds rate.