WASHINGTON — A majority of Federal Reserve officials last month believed that economic conditions would likely warrant keeping the Fed’s benchmark policy unchanged for the rest of this year.
Several officials said their view could shift in either direction based on incoming data, according to minutes of the meeting.
A shift to a view of weaker growth and lower inflation could prompt the Fed to cut rates, while a shift to a view of faster growth and rising inflation could prompt the Fed to resume raising rates.
The Fed at its March 19-20 meeting left its key policy rate unchanged and trimmed its expectations of rate hikes this year from two to none.
Some economists believe the Fed could actually start cutting rates later this year if the economy slows more.
