March 19-20 FOMC minutes: Majority saw rates in.>

FED: March 19-20 FOMC minutes: Majority saw rates unch in 2019

-------------------------------------------------------------------

- A majority saw no rate changes in 2019 at March 19-20 meet

- Several participants said view of future policy moves could shift 

either way based on data

- Some said if econ evolves as expected, another hike in 2019 could be 

warranted 

- Said patient stance remained appropriate due to uncertainties.

- Several said "patient" will need to be reviewed; a couple said 

"patient" should not limit policy adjustments if needed

- Some said appropriate response to labor mkt tightening could be 

"modest" if signs of inflation pressures limited

- Several preferred to resume purchases soon after runoff ends; some 

preferred to allow reserves to decline to allow more time to determine 

underlying reserve demand

- Noted that resumption of Treasury securities purchases to keep pace 

with growth in demand and to maintain "ample-reserve" regime, not a 

change in monetary policy.

- To discuss longer-term composition at future meeting.

- Noted recent headline inflation readings had been softer than expect

- Still saw risks from trade, Brexit, but uncertainties lower than in 

January.