Fed Minutes Show Disagreement over $600B Stimulus

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Some members of the Federal Reserve have expressed concern about the impact the Fed's quantitative easing initiative could have on the dollar.
    
The Fed has been widely criticized for its recent policy of purchasing $600 billion of government debt to help stimulate the economy.

Opponents say the move amounts to printing money and could lead to inflation, thus weakening the dollar even more on international markets.
    
Minutes from the Federal Open Market Committe's Nov. 2-3 meeting indicate that some members share the concern that the policy could hurt the dollar.

"Several participants saw a risk that a further increase in the size of the Federal Reserve's asset portfolio, with an accompanying increase in the supply of excess reserves and in the monetary base, could cause an undesirably large increase in inflation," the minutes read.

However, Federal Reserve Chairman Ben Bernanke has defended the bond-buying program, saying boosting the U.S. economy is crucial for global growth.

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