The minutes show that "about half" of the Fed's board felt the $85bn-a-month stimulus program could be phased out by the end 2013. Speculation that the Fed might halt quantitative easing (QE) with a couple of months had unnerved Wall Street. But the news that there would be no immediate exit sent US markets higher. "Several members judged that a reduction in asset purchases would likely soon be warranted," the minutes released on Wednesday said. But the minutes added that "many members indicated that further improvement in the outlook for the labor market would be required before it would be appropriate to slow the ... (full story)