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The members of the Monetary Policy Committee of the Central Bank of the United States (Fed) are unanimous: the inflation in their country is only "temporary." This consensus on the issue of price is clear from the minutes of the meeting held on 26 and 27 April. "Participants generally expected that the higher level of inflation would be a passenger," says the Fed on Wednesday.

According to the latter, "that forecast was based in part on a projection that the curve of changes in commodity prices would flatten out and the belief that inflation expectations remain stable longer term." As a reminder, the Fed on a table in 2011 inflation in the United States between 2.1 and 2.8% this year.In April, she displayed an increase of 3.2% over one year and 1.3% excluding food and energy.

Participants in the meeting did in fact echoed the boss of the Central Bank, Ben Bernanke. In early April, he had described the current surge in prices of "transient". Remarks which had so angered the American press which noted the difference between the Fed and the general public is faced with higher prices at the pump in a context of stagnant wages.

Liquidate assets

Inflation, which was at the heart of discussions at that meeting led to another consensus on the need for further monetary policy support the economy until at least late June. The main rate by the Fed remains close to zero.

Citing how the monetary institution should withdraw that support when the time comes, most leaders of the U.S. Federal Reserve agreed that it will take it winds up its portfolio in the medium term and that priority was separate assets linked to mortgages. "Many of these participants also expressed their preference for such assignments are relatively progressive," it added.

On Wall Street, markets mostly hold these discussions "should not be perceived as a sign that the Fed is preparing to raise rates." The Dow Jones, which evolved into small increase before the report's release, climbed more frankly about 0.46% to 12,536 points to 20.30.

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