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Fed Officials Signal June Hike and Caution on Inflation Progress

  • May FOMC minutes leave debate on three or four 2018 hikes open
  • Sustainability of 2 percent inflation remains chief concern
The Federal Reserve Ahead Of December Interest Rate Decision
Photographer: Andrew Harrer/Bloomberg

Federal Reserve officials signaled they are set to raise interest rates at their meeting in June, but sent no clear message on whether they’d hike one or two more times this year following that move.

U.S. central bankers said “it would likely soon be appropriate” to increase the benchmark policy rate, according to a record of their May 1-2 meeting released Wednesday, confirming investor expectations for a move next month. Beyond that, officials “expressed a range of views on the amount of further policy firming that would likely be required.”