Tinker taper: the Fed's cautious path

Many within the Fed believe its QE program is becoming less effective as time wears on. But future bumps in the tapering process mean it's prudent for the Fed to keep its options open.

The Federal Reserve minutes released overnight suggest that the central bank will “proceed cautiously” as it unwinds its unprecedented $US85 billion-per-month asset purchasing program. Just how cautious will depend on labour market figures released on Friday night.

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