Economics
Fed Sees Next Hike Soon, Signals Modest Inflation Overshoot OK
- Minutes indicate central bank on track for June rate increase
- Officials relay concerns over possible harm from trade policy
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Federal Reserve officials said the economic outlook warranted another interest-rate hike “soon” and signaled they would welcome a modest overshoot of their 2 percent inflation target, indicating they’re in no rush to tighten more aggressively.
“Most participants judged that if incoming information broadly confirmed their current economic outlook, it would likely soon be appropriate for the committee to take another step in removing policy accommodation,” minutes released Wednesday of the Federal Open Market Committee’s May 1-2 meeting said.