The Fed released the minutes of its meeting after the inflation rate announced today.
US Federal Reserve (Fed) minutes released. In the published minutes, it was stated that the banking crisis could lead to a recession in the US economy.
Fed: Banking Crisis Could Lead to Recession
The US Federal Reserve (Fed) released its March inflation data today. Fed announced inflation at 5 percent. Following the announcement of inflation, the minutes of the meeting were published. In the report, a special heading was opened on the banking crisis.
The minutes of the meeting, where the Fed calculated the inflation for March, were announced. In the minutes of the banking crisis, it was written that this situation could lead to a recession towards the end of the year.
The following statements were made regarding the banking crisis:
“Given their assessment of the potential economic impact of recent developments in the banking sector, staff’s forecast at the time of the March meeting includes a slight recession that began late this year and a recovery over the next two years.”
In addition, inflation data were also evaluated at the meeting. Participants agreed that inflation could not be prevented to the extent expected.
Following the announcement of inflation as 5 percent, the following statements took place:
“Core inflation is projected to slow sharply next year, reflecting the effects of less frequency predicted in product and labor markets.”
