FOMC Minutes Released: Dissension To QE4EVA Growing

While some were concerned at the Fed's new quantitative targets as suggesting early tightening, it appears (from the FOMC Minutes) that those fears were somewhat warranted (with most seeing QE ending in 2013): *FED SAYS A FEW ON FOMC WANTED QE UNTIL ABOUT THE END OF 2013 *FED: SEVERAL ON FOMC BACKED QE HALT OR CUT WELL BEFORE 2013 END *ALMOST ALL FOMC MEMBERS SAW POTENTIAL QE COSTS AS INCREASING The punchline: "several" means more than just QE4 hater Jeff Lacker are turning hawkish. Though, even with the risks, they want moar. Pre-FOMC Minutes: ES 1460, 10Y 1.86%, EUR 1.3108, Gold $1674. Post: ES -6pts, 10Y +5bps, EUR -40 pips, Gold -$10.   Here is the punchline from the report: In their discussion of monetary policy for the period ahead, all members but one judged that continued provision of monetary accommodation was warranted in order to support further progress toward t...