In the Fed’s release of its minutes on April 3, four regional bank presidents said quantitative easing might be unnecessary, Bloomberg reported.

However, mortgage bond investors like Jason Callan, head of structured products at Columbia Management Investment Advisers, believe otherwise.

“Mortgages didn’t underperform in a truly meaningful fashion,” Callan said. “The likelihood of QE was modestly diminished, particularly in terms of the April meeting, but that doesn’t take it off the table for later.”

For more information, read the original Bloomberg report.