Odaily News The Federal Reserve yesterday released the minutes of its interest rate meeting from April 30 to May 1. The minutes showed that after the US inflation data failed to meet expectations for three consecutive months, Fed officials believed that interest rates would need to remain high for longer than previously expected. At the interest rate meeting, the Fed, as expected, continued to maintain the interest rate level at 5.25%-5.5%, and was ready to slow down the pace of balance sheet reduction from June, reducing the monthly redemption limit of US Treasury bonds from US$60 billion to US$25 billion. (Caixin.com)