Meeting Minutes Say FOMC to preserve reduction Rate to Slow Inflation
The release of the Federal Open Market Committee’s (FOMC) March 31-
April 30 minutes show seven district banks had voted for no change in the
discount rate in an effort to slow inflation.
The Boston Fed was the lone bank to vote for a half-point cut in the
reduction rate. Four banks had requested a 25bp cut to the Fed
as they expressed concern about the near-term prospects for profitable
activity.
“Several directors famous that meaningful downside risks to profitable
growth remained…
Original post by Mortgage News Daily - Mortgage And Real Estate News
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