Federal Reserve minutes indicate worries over lack of progress on inflation
- Federal Reserve officials expressed concerns about inflation levels, with a lack of confidence to proceed with interest rate reductions, per minutes from the April 30-May 1 policy meeting of the Federal Open Market Committee.
- Inflation remained above the Fed's 2% target, prompting worries among policymakers about the future trajectory of prices and their impact on consumers, especially those with lower incomes.
- Recent data showed a slowdown in hiring and a cooling of price pressures, indicating a possible shift in the economic landscape since the meeting.
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