FOMC Minutes: Most Fed Officials Saw June Hike 'Likely'

The transcript discusses the Federal Reserve's considerations for a potential rate increase in June, highlighting economic conditions, investor perceptions, and communication challenges. It compares the March and April meeting minutes, noting improved financial conditions and diminished concerns about global developments. The Fed remains data-dependent, with some participants advocating for a rate increase in April, while others prefer caution.

How did the weak first quarter affect market perceptions of the Fed's actions?

What message did the Fed aim to convey by removing references to global developments in the March Minutes?