The minutes from the Federal Reserve’s March 18-19 meeting are scheduled for release on Wednesday at 18:00 GMT. At this meeting, the Federal Open Market Committee (FOMC) maintained the Federal Funds Target Range (FFTR) at 4.25%-4.50%. The updated Summary of Economic Projections (SEP) revealed a heightened level of uncertainty among committee members. Revised economic forecasts for 2025 and 2026 were adjusted downward, reflecting a cautious approach. Despite these conservative revisions, the Fed’s projections still indicate an anticipated two reductions to the federal funds rate in 2025, suggesting a continued commitment to eventual monetary policy easing. The Fed’s decision was perceived as a hawkish hold, a sentiment reinforced by Chairman Powell’s commentary. Investors are currently assessing the possibility of a rate cut at the upcoming May 7 meeting.
