Fed notes show inflation concern, cite Iran, keep rates 3.5%-3.75%
NewsBytes | May 21, 2026 4:39 PM CST
Fed officials split on policy direction
Fed officials aren't all on the same page about what to do next: some want to drop hints about future rate cuts, while others think it's time to get tougher on inflation.
Outgoing Chair Jerome Powell said they'll talk more about this "easing bias" at their June meeting.
Meanwhile, thanks to sticky inflation and global disruptions like disruptions in the Strait of Hormuz, markets are now expecting higher rates to stick around longer than many hoped.
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