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Minutes of the Mar Fed meeting revealed that most FOMC
participants prefer “gradual increases in the federal funds rate” and “a
change to the reinvestment policy… later this year”. “The reductions in
the Federal Reserve’s securities holdings should be gradual and
predictable, and accomplished primarily by phasing out reinvestments of
principal received from those holdings”. The committee seemed rather
split on inflation. One group sees gradual removal of monetary
accommodation as necessary ...
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