
The March minutes show Federal Reserve officials kept rates at 3.5%-3.75% while discussing possible cuts or hikes, with policymakers citing inflation concerns and Iran war-related labor market risks.
The Federal Reserve’s March meeting minutes, released April 9, showed officials kept the benchmark rate unchanged at 3.5% to 3.75% while debating whether future policy should allow for either rate cuts or rate hikes. According to the minutes from the March 9 meeting, more officials backed adding two-way guidance on future rate decisions. Most participants cited labor market risks tied to the Iran war, while many also stressed inflation risks that could justify tighter policy, highlighting continued uncertainty over the U.S. rate path.