Federal Reserve still patient on interest rates, mulling balance-sheet policy

Federal Reserve policymakers debated how to manage the U.S. central bank’s massive holding of bonds while agreeing to be patient about any changes to interest rate policy, according to the minutes from their March 19-20 meeting.

But some policymakers said they could change their minds on whether the Fed’s next move should be to raise or lower rates.“Several participants noted that their views of the appropriate target range for the federal funds rate could shift in either direction based on incoming data,” according to the minutes.

The Fed took a sharply less aggressive policy posture at its March policy meeting, signaling it will not hike rates this year amid a slowing economy and announcing a plan to end its balance sheet reduction program by September.

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