WASHINGTON — Nearly every member of the Federal Reserve thought last month that the central bank should see more evidence that the economy was improving before slowing its bond purchases. But worries about whether a delay would confuse financial markets made the decision a ‘‘close call.’’
Minutes of the Fed’s Sept. 17-18 meetings released Wednesday show that the Fed wrestled with the decision, even though the panel ended up voting 9 to 1 to keep the purchases at the current level of $85 billion a month. The bond purchases are intended to keep long-term interest rates low to encourage more borrowing and spending.
According to the minutes, all members but one wanted to see more data before reducing the purchases. Full story for BostonGlobe.com subscribers.