Fed policymakers may give new bond-buying guidance 'fairly soon'

Most participants said the committee should move toward issuing forward guidance that links the pace and makeup of purchases to certain economic outcomes

U.S. Federal Reserve policymakers may soon give new guidance on their plans for asset purchases, including for how long and in what maturities, as they seek to provide more support to markets and the economy, minutes from their November policy-setting meeting show.

"Many participants judged that the Committee might want to enhance its guidance for asset purchases fairly soon," the minutes said.U.S. central bankers agreed the asset purchases were providing accommodation for the economy and served as "insurance" against risks that could appear because of uncertainty created by the coronavirus pandemic, according to the minutes of the Nov. 4-5 meeting