Latest Fed Minutes Point to June Rate Hike

The transcript discusses a committee meeting held on May 2nd and 3rd, focusing on the potential for a June rate hike. It highlights the agreement on not ceasing asset reinvestments and the debate over inflation and unemployment trends. The committee considered recent economic data, including strong April payrolls and weak CPI data, which influenced their decision-making. A proposal for gradually increasing caps on treasury and agency securities was also discussed, with most policymakers expressing support.

What were the differing opinions among committee members about raising rates?

What was the general sentiment of policymakers towards the proposed approach to caps on securities?