(C) Reuters. FILE PHOTO: People are seen on Wall Street outside the New York Stock Exchange (NYSE) in New York City, U.S., March 19, 2021. REUTERS/Brendan McDermid/File Photo
By Medha Singh and Noel Randewich
(Reuters) – Wall Street’s main indexes remained lower on Wednesday after Fed minutes showed participants agreed the U.S. economy remained far from the Fed’s goals, with some eyeing a future discussion of tapering.
A number of Fed policymakers thought that if the economy continued rapid progress, it would become appropriate “at some point” in upcoming meetings to begin discussing a tapering of monetary policy measures.
A couple of Fed policymakers raised concerns that inflation will rise to “unwelcome” levels before the case for policy action becomes sufficiently evident.
Strong inflation readings and signs of a worker shortage in recent weeks have fueled fears of inflation and roiled stock markets despite reassurances from Fed officials that the rise in prices would be temporary.
All 11 major S&P sectors were lower, with energy and materials down 1.7% and 2.4%, respectively, leading declines.
Wall Street remains lower after Fed minutes
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