GOLD: Stalls on the offer after FOMC minutesFOMC minutes, key notes
Some participants commented that additional policy firming would likely be warranted at future meetings.
Some participants stressed it was crucial that policy that the statement not signal the likelihood of rate cuts this year or rule out further hikes.
Fed staff continue to forecast mild recession starting later this year, followed by a modestly-paced recovery.
Several participants said if the economy evolved along lines of their outlooks, further policy firming might not be needed.
Participants generally agreed that the extent to which further interest rate hikes may be appropriate had become less certain.
Many participants focused on need to retain optionality after May meeting.
Participants judged that the banking sector stress would likely weigh on economic activity but to an uncertain extent.
Participants agreed that inflation was unacceptably high, and are declining slower than they had expected.
Some participants noted concerns that the Federal debt limit may not be raised in a timely manner, threatening significant financial system disruptions, and tighter financial conditions.
