FOMC Minutes Turn Hawkish: Rate-Cut Discussions Fade from View, Risk of Rate Hikes Re-emerges

Odaily reported, citing analysis from the Wall Street Journal, that the minutes of the latest Federal Reserve meeting show officials have largely moved beyond the question that dominated FOMC debates over the past two years — whether to cut interest rates — and are now more seriously weighing the possibility of a rate hike. The minutes noted that "many participants stressed... that if inflation remains stubbornly above 2%, further policy tightening may be necessary." These minutes come from Jerome Powell's last meeting as Fed Chair, highlighting how the Middle East conflict is reshaping the outlook for the rate-setting committee. Kevin Warsh is set to be sworn in at the White House on Friday before taking the helm of the Fed. The next Fed policy meeting is scheduled for June 16-17. (Jin Shi)