Fed doves disagree over FOMC's next move

The indecision surrounding the future of the Federal Reserve's asset purchase programme was highlighted yesterday in separate speeches by three members of the Federal Open Market Committee (FOMC), setting out their differing visions.

Sandra Pianalto, the Cleveland Fed president, warned the Fed's balance sheet will grow to $4 trillion by the end of the year if it continues purchasing assets at a rate of $85 billion each month, and called for the FOMC to start applying the brakes.

Boston Fed presi

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