Federal Reserve Minutes Turn Hawkish: Interest Rate Cut Discussions Fade from View, Risks of Rate Hikes Reemerge

Odaily Planet Daily News According to an analysis by the Wall Street Journal, the Federal Reserve meeting minutes show that Fed officials have largely moved beyond the question that dominated FOMC debates over the past two years—whether to cut interest rates—and are now beginning to more seriously weigh the possibility of raising rates. The minutes noted that "most participants emphasized 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 conflict in the Middle East is reshaping the outlook of the rate-setting committee. Kevin Warsh will be sworn in at the White House on Friday to lead the Fed. The Fed's next policy meeting is scheduled for June 16-17. (Jin Shi)