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since our previous fomc meeting economic indicators have generally come in stronger than expected demonstrating greater momentum and economic activity and inflation We Believe however that events in the banking system over the past two weeks are likely to result in tighter credit conditions for households and businesses which would in turn affect economic outcomes it is too soon to determine the extent of these effects and therefore too soon to tell how monetary policy should respond as a result we no longer state that we anticipate that ongoing rate increases will be appropriate to coil inflation instead we now anticipate that some additional policy firming may be appropriate we will closely monitor incoming data and carefully assess the actual and expected effects of tighter credit conditions on economic activity the labor market and inflation it was a pause considered for this meeting so we considered um we did consider that in the Days running up to the meeting and you see the deci