Minutes: Fed won't cut bond buying until unemployment is lower

Most members of the Federal Reserve's Federal Open Market Committee want to see more evidence that the U.S. economic recovery is on solid ground and that the job market is improving before the Fed starts to phase out its bond-buying program, according to minutes from the central bank's meeting in June. Financial markets largely believe that the Fed will start scaling back bond buying in September, but the minutes suggest that move may come later.

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