Federal Reserve policymakers “generally favored” slowing the pace at which they’re shrinking the central bank’s asset portfolio by roughly half, minutes from their latest gathering showed. The record of the March 19-20 Federal Open Market Committee meeting also showed “almost all” officials judged it would be appropriate to begin lowering borrowing costs “at some point” this year. However, inflation data since then has upended expectations for three interest-rate cuts this year. Policymakers “noted that the disinflation process was continuing along a path that was generally expected to be somewhat uneven,” according ... (full story)