FED: FOMC Minutes from the Mar 20-21 meeting showed 'almost all' wanted to raise rates at the latest meeting, with a couple pointing to benefits of waiting for a rise in infl, as data show infl goal of 2% more likely. -All participants see further firming of mon pol likely to be warranted, with almost all participants agreeing it remains appropriate to follow a gradual approach. Stance is expected to gradually move to 'neutral' and 'a restraining factor' from 'accommodative.' -Participants see steel and aluminum tariffs as unlikely to have significant effect on outlook. A 'strong majority' viewed issues and uncertainties regarding trade policies as downside risks for US econ. -Taxes and fed budget expected to provide boost to output in nxt few yrs. However, magnititude and timing of effects remain uncertain. A number of participants see higher budget decifits and real interest rates as potential downside risks to econ outlook. -Financial conditions remain accomodative despite volatility. -Few participants see moderate wage growth as an indication that the labor mkt can strengthen further.