Minutes of the FOMC’s March 16-17 meeting revealed on Wednesday that policymakers agreed that despite an improving economy, the US was still far from the Federal Reserve’s goals.
Key takeaways as summarized by Reuters
“Participants noted it would likely be some time before substantial further progress seen on goals.”
“Participants agreed the path ahead remained highly uncertain with the pandemic continuing to pose risks.”
“Given those risks, the current stance of monetary policy remained appropriate to foster further recovery.”
“A number of participants highlighted the importance of communicating progress well in advance of potential QE taper; timing would depend on the economy, the pace of progress.”