US - FOMC minutes of March 21st
The FOMC is still concerned by inflation risk and expect growth to slow in 2007.
Official press release
- Inflation is still at an uncomfortable level for the committee
- Further decisions about FedFunds will be function of economic growth and inflation
Here is the FOMC expressing concern about inflation:
“In these circumstances, the Committee’s predominant policy concern remainsIt will be important to take a close look at numbers coming until the next meeting because a surge in oil price is likely to maintain inflation high. If the FOMC feel that household and professionals forecasters expect inflation to remain high they may increase FedFunds target in August against all expectations.
the risk that inflation will fail to moderate as expected. Future policy
adjustments will depend on the evolution of the outlook for both inflation
and economic growth, as implied by incoming information.”
Official press release
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