U.S. Fed officials split on how long to continue QE3

Jan 03, 2013, 5:43 PM EST
Board of Governors member Jeremy Stein listens during an open board meeting at the Federal Reserve in Washington December 14, 20
REUTERS/Kevin Lamarque

Minutes of the U.S. Federal Reserve's December policy meeting showed officials were divided about when to halt the central bank's bond-buying programs, with a majority split between the middle and the end of this year, and a minority ready to continue it into 2104. The minutes also suggest that if the Fed keeps buying bonds at its current pace of $85 billion a month for the rest of 2013, it would accumulate an additional  $1 trillion in long-term assets, the first indication it has given of the size of its third round of quantitative easing (QE3).