It seems Bernanke may not quite have all of his ducks in a row.
Of the majority favoring the programs, officials were about evenly split between those who thought the Fed would be likely to end the bond buying by “sometime around the middle of 2013” and those who thought the central bank would want to continue beyond then, the minutes said. Some saw the programs continuing until year-end.
Some wanted to stop buying bonds four Mondays ago. That prospect did not make the boys and girls on the floor very happy.
Stock prices fell after the minutes were released, with many investors surprised to learn the programs could end sooner than they thought. The Dow Jones Industrial Average finished the day down 21.19 points at 13391.36.
The reaction was a potential warning from investors, who have grown accustomed to repeated Fed stimulus efforts since the 2008 financial crisis. The market reaction showed that even discussion about ending the programs, also known as quantitative easing, or QE, could jolt stocks and bonds.