Fed officials see rate hike ahead if inflation stays elevated, minutes show

WASHINGTON — A majority of Federal Reserve officials at their most recent meeting anticipated that interest rate increases would be necessary if the Iran war continued to aggravate inflation, according to minutes released Wednesday.

Though the rate-setting Federal Open Market Committee again voted to keep its benchmark rate targeted between 3.5%-3.75%, the meeting featured four “no” votes, the most since 1992, and an apparently heightened level of disagreement about where policy should go.

Source: https://www.cnbc.com/2026/05/20/fed-officials-see-rate-hike-ahead-if-inflation-stays-elevated-minutes-show.html