The markets' multi-trillion dollar question for the Fed

The Federal Reserve is aware of the challenges it faces in ending QE without triggering another crisis, but markets have already focused their attention to the timing and magnitude of a rate rise.

The minutes of the Federal Reserve Board’s Open Market Committee’s June meeting make it clear that the central bank plans to end its purchases of bonds and mortgages in October. The multi-trillion dollar question that remains is when it will start raising US interest rates.

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