Global Macro Service > Research Briefings > United States

Fed minutes underscore a long holding pattern

The minutes from the March 19–20 FOMC policy meeting were in line with expectations. On the rate front, they underscored that “a majority of participants” expected that economic conditions would “warrant leaving the target range unchanged for the remainder of the year.” Many also noted that the current fed funds rate was close to their estimates of the long-run neutral level.

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