FOMC minutes show members expecting higher US inflation
Fed’s rate-setters say current fiscal policy has few historical parallels
Members of the US Federal Open Market Committee expect rising inflation and stronger economic growth, according to the minutes of their last meeting, held on March 20 and 21. But FOMC members are “uncertain” about the effects of the Trump administration’s fiscal policy.
“All participants agreed that the outlook for the economy beyond the current quarter had strengthened in recent months,” according to the minutes, published on April 11. In addition, “all participants expected inflation on a 12
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