📕 Minutes from the last #FED meeting :
▫️ All participants in the Fed meeting considered it appropriate to keep the interest rate unchanged in light of the increased uncertainty about the economic outlook.
▫️ Fed chairmen noted the high uncertainty about the net impact of government policies on the outlook, which necessitates a cautious approach.
▫️ Most participants noted that inflationary effects caused by various factors may prove more persistent than they had predicted.
❕ Almost all meeting participants assessed the risk of inflation as skewed to the upside , and the risks to employment as skewed to the downside.
▫️ The Fed is in a good position to await more clarity on the economic outlook.
❕The Fed staff's forecast for real GDP growth turned out to be weaker than the forecast prepared for the January meeting.
▫️ The Fed may face difficulties as elevated inflation may prove more persistent than expected.
❕Almost all Fed chairmen supported slowing the pace of balance sheet reduction ( #QT ).