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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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Bias Distribution

  • 53% of the sources are Center
53% Center
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Winnipeg Free Press broke the news in Winnipeg, Canada on Wednesday, May 22, 2024.
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