Fed Minutes Show Powell Wants To Keep Rate Hike Options Open, But Path Remains Uncertain

Federal Reserve officials stressed the need to keep their options open on future rate hikes, minutes from the central bank's May policy meeting indicated Wednesday, but hinted that if the economy performs as expected, further increases might not be necessary.

The minutes, taken from the Fed's policy meeting that ended on May 3, reflect the broad strokes of the central bank's statement, as well as comments from Chairman Jerome Powell, that followed its tenth consecutive rate hike. That increase lifted the Fed Funds benchmark to a range of 5% to 5.25%, the highest since 2007.

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