Majority of Fed officials expect interest rates to be unchanged for rest of 2019
The Federal Reserve’s decision in March to cease raising interest rates this year was driven by unease over the U.S. and global economies and surprisingly subdued inflation, according to minutes of the pivotal central bank meeting.
“A majority of participants expected that the evolution of the economic outlook and risks to the outlook would likely warrant leaving the target range unchanged for the remainder of the year,” the minutes said.“It was noteworthy that [inflation] had not shown greater signs of firming in response to strong labor market conditions and rising nominal wage growth, as well as to the short-term upward pressure o prices arising from tariff increases,” the minutes of the March 19-20 meeting said.
The minutes revealed a debate inside the Fed about when the bank should resume purchases of Treasurys after it ends it balance-sheet runoff.
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