Fed resisted surprise cut in rates

US - The Federal Reserve's committee of policymakers considered a surprise cut on 11 April but held off for fear of upsetting volatile stock markets.

This cut would have come even earlier than the unexpected easing of rates on 18 April.

Minutes released yesterday (17 April) showed that members of the Federal Open Market Committee (FOMC) "agreed that an easing on 11 April would not be advisable, inasmuch as the attendant surprise to most outside observers risked unpredictable reactions in financial

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