'Most' Fed officials saw 50 bps rate hikes in June and July, show minutes

All participants at the Federal Reserve's May 3-4 policy meeting backed a half-percentage-point rate increase to combat inflation they agreed had become a key threat to the economy's performance and was at risk of racing higher without central bank action, newly released minutes of the session showed.
 

The 50-basis-point rate increase this month was the first of that size in more than 20 years, and has set the Fed on course for a quick tightening of monetary policy, with "most participants" judging that further half-percentage-point increases would "likely be appropriate" at upcoming Fed sessions in June and July, according to