Reply To: Federal Reserve Again Raises Rates Again 75 Basis Points as Expected


FOMC minutes of the June 14-15 FOMC meeting

Participants ‘concurred’ that inflation outlook had deteriorated
High inflation warranted restrictive interest rates
Most participants saw downside risks to growth, including the possibility that Fed hikes have a larger-than-anticipated impact
Saw possibility of ‘more restrictive’ rates if hike inflation persisted
Judged increase of 50 or 75 bps would likely be appropriate in July
‘Many’ participants judged there was a significant risk higher inflation could become entrenched if public questioned the Fed’s resolve