FOMC minutes: Early returns point to spring rebound in economy

|By:, SA News Editor

The Fed is examining "several approaches" for tightening monetary policy, but made no decisions on how to proceed, according to the minutes of the FOMC meeting in late April.

Meeting participants blamed the weather on the "sharp slowdown" in the economy in Q1, but recent indications point to a rebound. "Most participants" took note of the continuing weakness in housing.

On inflation, most expect the rate to return to the 2% target within a few years, but a number expressed concern the return to 2% could be "even more gradual."