There’s a palpable tension in the air as Wall Street is confronted with the once unthinkable: interest rates may not be at their peak.that concluded on May Day show that we’re not alone in our view that the Fed’s next move might be an interest rate hike. Indeed, an unspecified number of Fed officials raised the possibility at the meeting.
In the restrained and measured language of central bankers, this is nothing short of a clarion call. They’re telling us thatAt the May Day meeting, the Fed elected to keep its benchmark interest rate within the range of 5.25 percent and 5.5 percent—a level steadfastly maintained since last July. Yet, behind this façade of stability,, with housing and labor costs refusing to fall in line with their expectations and the benefits from supply-chain improvements having run their course.
“Several participants commented that growth of aggregate demand would likely have to slow from its strong pace in recent quarters for inflation to move sustainably toward the Committee’s goal,” the minutes note.
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