Fed minutes reveal split over tapering as ‘dovish' Bernanke calms markets


Federal Reserve chairman Ben Bernanke yesterday sought to clarify earlier remarks that the Fed might begin to cut back on its asset purchase programme later this year, as minutes from the Federal Open Market Committee's (FMOC) June meeting revealed a split among the committee's members over the programme's timeframe.

Though a majority supported continuing stimulus through quantitative easing (QE) until the labour market picks up, "about half" of the committee's 19 members – including the seven

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