US Fed wants more job gains before slowing QE: Minutes

Even as consensus built within the US Federal Reserve in June about the likely need to begin pulling back on economic stimulus measures,many officials wanted more reassurance the employment recovery was on solid ground before a policy retreat on the central banks 85 billion in monthly bond purchases or Quantitative Easing QE,minutes of the Feds June meeting released on Wednesday said.

Several members judged that a reduction in asset purchases would likely soon be warranted, the minutes said. It added that many members indicated that further improvement in the outlook for the labour market would be required before it would be appropriate to slow the pace of asset purchases.