On April 13, the minutes of the Federal Reserve meeting mentioned that when discussing the current economic conditions, participants pointed out that recent indicators showed a moderate increase in spending and production.
At the same time, though, participants noted that job growth has picked up in recent months and is growing at a strong pace; unemployment has remained low.
Inflation remains high. Participants agreed that the U.S. banking system remains sound and resilient.
They commented that recent developments in the banking sector could lead to tighter credit conditions for households and businesses and weigh on economic activity, employment and inflation.
Participants agreed that the magnitude of these effects is uncertain. In this context, participants continued to pay close attention to inflation risks.