‘At Some Point’

"Almost all participants judged that it would be appropriate to move policy to a less restrictive stance at some point this year," the account of last month's Fed meeting, published on Wednesday afternoon in the US, read. To call the March FOMC minutes "stale" would be to materially understate the case. Even before a third consecutive CPI overshoot effectively ruled out a first-half rate cut, policymakers were second-guessing themselves and using public speaking engagements as opportunities to