Potential Shutdown Influenced Fed's Bond Purchase Decision

Concern over the potential of a government shutdown influenced the Fed’s decision to continue the monthly bond purchasing program, according to a summary of its September 18 meeting. The recently released minutes noted that some of the policymakers “pointed to heightened uncertainty about the course of federal fiscal policy over coming months, including the potential for a government shutdown or strains relating to the debt ceiling debate, which posed downside risks to the economic outlook.” The Fed also pointed to housing recovery setbacks and a weak labor market. Some of the members “expressed concerns that tighter financial conditions might weigh on the recovery in the housing sector.”

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