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Fed Officials Back Dovish Powell View Despite Brighter Outlook

  • Minutes of March FOMC meeting display unanimity on committee
  • Scant talk of bond tapering with ‘some time’ to go on goals
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WATCH: The Fed isn’t ready to taper yet.Source: Bloomberg)
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Federal Reserve Chair Jerome Powell’s dovish message on an incomplete economic recovery won the day when officials met last month, with a record of the gathering showing a unanimous near-term policy outlook.

“Participants noted that it would likely be some time until substantial further progress toward the committee’s maximum-employment and price-stability goals would be realized,” according to minutes from the March 16-17 Federal Open Market Committee meeting published Wednesday.