FOMC members concerned over US inflation, minutes show
Some committee members sought to maintain pace of Fed’s balance sheet selloff
Various Federal Open Market Committee participants expressed willingness to tighten US monetary policy further, the minutes of the May meeting showed.
“Many participants commented on their uncertainty about the degree of restrictiveness” of monetary policy, the minutes said. Those participants said higher interest rates might be having less effect than historically observed. The participants discussed holding rates longer should inflation prove stickier than anticipated.
The Fed decided to slow
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