Fed minutes show more policymakers were prepared to lay groundwork for rate hike - BNN Bloomberg

Federal Reserve officials’ concerns about inflation being stoked by the Iran war intensified last month, with a growing number of them saying the central bank should lay the groundwork for a possible rate hike, a sign that incoming Chair Kevin Warsh will inherit an increasingly hawkish crew of central bankers. Moreover, a majority of Fed policymakers at their April 28-29 meeting said some policy tightening may be needed were inflation to continue running persistently above the central bank’s two per cent target. “To address this possibility, many participants indicated that they would have p…