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#FOMC Notes
• Some participants noted concerns that the federal debt limit may not be raised in timely manner, threatening significant financial system disruptions, tighter financial conditions.
• Some participants noted concerns that the federal debt limit may not be raised in timely manner, threatening significant financial system disruptions, tighter financial conditions.
• participants agreed that inflation was unacceptably high, and are declining slower than they had expected.
• participants judged that the banking sector stress would likely weigh on economic activity, but to an uncertain extent.
• many participants focused on need to retain optionality after may meeting.
• participants generally agreed that the extent to which further interest rate hikes may be appropriate had become less certain.
• several participants said if the economy evolved along lines of their outlooks, further policy firming might not be needed.
• several participants said if the economy evolved along lines of their outlooks, further policy firming might not be needed.
• fed staff continue to forecast mild recession starting later this year, followed by a modestly-paced recovery.
• some participants stressed it was crucial that policy that the statement not signal the likelihood of rate cuts this year or rule out further hikes.
• some participants commented that additional policy firming would likely be warranted at future meetings.
• Fomc meeting minutes federalreserve.gov/monetarypolicy…
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