The minutes of the Federal Open Market Committee (FOMC) meeting on 19-20 March showed that officials are concerned that progress in inflation has slowed and that interest rates may need to remain at current levels for a longer period of time. Photograph taken in Washington in 2013 (2024 Reuters/Jonathan Ernst/File Photo)
[ワシントン １０日 ロイター] – The United States Federal Reserve (Fed) released the minutes of the March 19-20 Federal Open Market Committee (FOMC) meeting on March 10, where officials said that progress on the inflation front has slowed and that interest rates will continue to have raise them for and It is understood that there are concerns that it may be necessary to leave prices unchanged at current levels for the period.
“In general, FOMC participants noted the uncertainty surrounding persistently high inflation and expressed the view that recent data do not bolster confidence that inflation will sustainably decline to 2 percent,” the summary said.
“Some” officials said there was a risk that the Fed’s monetary policy “would not be as restrictive as desired, which could add momentum to aggregate demand and put upward pressure on inflation.” This rationale could be used to defend interest rate rises.
Fed officials have been debating whether the risk of keeping interest rates too high for too long is greater, or the risk of starting to cut rates too early and failing to return inflation to the 2% target .
Some officials continue to insist that important items such as housing inflation will begin to slow down. “Many” said they believed productivity gains would allow the economy to maintain strong economic growth while continuing to moderate inflation.
In general, however, there were concerns about the fight against inflation, which had shown some improvement at the start of the year.
“Representatives highlighted strong economic momentum indicators and disappointing inflation rates in recent months,” the minutes said. He reiterated the need for more confidence that inflation will continue to slow before interest rate cuts begin.
Regarding immigration, a factor considered by the Fed in strengthening its economic growth forecasts for this year, “many” participants said, “It is difficult to assess how recent immigration trends will affect the economy. “We do the best of her,” he said. He said.
The Federal Reserve has raised policy interest rates starting in March 2022 to combat rising inflation. Since July last year, it has remained unchanged at 5.25-5.50 percentage points.
The next FOMC meeting will be held between April 30th and May 1st.
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