Minutes of March 19-20 FOMC meeting released overnight solidify Fed’s patience stance. Additionally, the minutes indicated that some members are open to rate cut if incoming data and development warrant so.
It’s noted that a “majority” of participants expected that evolution of economy and risks would likely warrant leaving interest rate unchanged for the rest of year. Some of them noted current interest rate was “close to” neutral.
At the same time, participants continued to “emphasize” decisions at coming meetings would depend on their ongoing assessments of the economic outlook and how risks evolved. “Several” participants noted their view on interest rate “could shift in either direction based on incoming data and other developments.”
