Fed Officials Divided on Stimulus, Disappointed on Job Growth

Federal Reserve officials differed last month over whether more signs of strength in the U.S. recovery would warrant reducing or slowing record monetary stimulus even as they affirmed disappointment with job growth.

A “few” of the 11 voting members said “additional data pointing to a sufficiently strong recovery” could necessitate changes to a bond purchase plan, the Federal Open Market Committee said in minutes of its Jan. 25-26 meeting released yesterday. “Others pointed out that it was unlikely that the outlook would change by enough to substantiate any adjustments to the program before its completion,” the Fed said.