The Federal Reserve on Wednesday released minutes from its March 15-16 policy meeting.
Federal Reserve officials discussed how they want to reduce their trillions in bond holdings at their March meeting, with a consensus amount around $95 billion, minutes released Wednesday showed.
At the meeting, the Fed approved its first interest rate increase in more than three years. The 25 basis point increase — a quarter percentage point — lifted the benchmark short-term borrowing rate from the near-zero level where it had been since March 2020. That means potential rate hikes of 50 basis points at upcoming meetings, a level consistent with market pricing for the May vote. In fact, there was considerable sentiment to go higher last month.
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