The Federal Open Market Committee released minutes Wednesday of its March 15 meeting, during which it lowered its benchmark interest rate to near zero. The meeting summary indicated that not only did members believe it was important to use all their rate power now, but also that they intend to keep rates anchored at the bottom for the foreseeable future.
The meeting, held remotely on a Sunday afternoon, resulted in the committee taking down its policy rate to where it was during the financial crisis. All but one member voted in favor, with Cleveland Fed President Loretta Mester offering dissent. The decision also included a nod to the "forward guidance" the Fed uses to indicate the future path of policy. Market participants had been looking for whether the meeting summary would show an intent to keep the fed funds rate at its lowest level.
more and more inflate market
Woo who! Rally time!
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