SUMMARY OF FED MEETING MINUTES (5/22/24):
1. Various offices mention raising rates if inflation warrants it
2. Fed officials note “disappointing” inflation data in Q1 2024
3. Officials discussed holding rates higher for longer
4. Some officials worry that financial conditions are not sufficiently restrictive
5. Some officials think long run rates need to be higher
6. Many officials commented on uncertainty about degree of policy restrictiveness
Higher for longer is here to stay.
1. Various offices mention raising rates if inflation warrants it
2. Fed officials note “disappointing” inflation data in Q1 2024
3. Officials discussed holding rates higher for longer
4. Some officials worry that financial conditions are not sufficiently restrictive
5. Some officials think long run rates need to be higher
6. Many officials commented on uncertainty about degree of policy restrictiveness
Higher for longer is here to stay.