Markman: The Fed’s Meds

The central bank is still on the side of investors


One of the most exciting events in the middle of every month for monetary policy followers is the release of the Federal Reserve Board minutes from the previous month’s meeting.

The minutes of the central bank’s rate-setting committee last week provided insights on how and when Bernanke & Co. plan to end quantitative easing and tighten monetary policy. The minutes said that a few participants “thought that economic conditions might warrant action … later this year.”

But that group was shown to be in the minority, because most participants were said to be concerned that “an early exit could unnecessarily damp the ongoing economic recovery.”

In short, outside of a few inflation hawks, the majority said they did not plan to tighten until next year at the soonest, which is pretty much what we gathered from Fed chief Ben