Gold price holding above $2,000, sees little movement following FOMC Minutes
The Federal Reserve committee members noted that because of the banking crisis, risks to the economy remain tilted to the downside.
Despite the growing economic risks, the central bank also noted that inflation remains persistently higher. "Many participants remarked that the incoming data before the onset of the banking sector stresses had led them to see the appropriate path for the federal funds rate as somewhat higher than their assessment at the time of the December meeting. After incorporating the banking-sector developments, participants indicated that their policy rate projections were now about unchanged from December," the minutes said.
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