“Fed Whisperer”: Interest Rate Cut Discussion All but Ended, Fed Begins Seriously Discussing Possibility of Rate Hikes

Odaily Planet Daily News "Fed Whisperer" Nick Timiraos stated that Fed officials have almost stopped discussing the question that dominated policy debates over the past two years—whether to cut interest rates—and instead began to more seriously consider the opposite direction at their meeting last month: whether rate hikes are necessary. Minutes from the April policy meeting showed: "Most participants emphasized that if inflation continues to persist above 2%, further policy tightening might become appropriate." The April meeting was Powell's last as Fed Chair, and the minutes highlighted how the Middle East conflict has reshaped the outlook of the rate-setting committee. Warsh will take over the committee after being sworn in at the White House on Friday. (Jin Shi)