Federal Reserve officials were worried about the possibility that higher inflation resulting from the White House trade policy might lead to lasting higher inflation, even as central bank staff were noting that recession odds were high, according to the minutes of the Fed’s May 6-7 meeting, published Wednesday.

The Federal Open Market Committee (FOMC) will release the Minutes of its May 6-7 meeting on Wednesday. Back then, policymakers decided to keep the Fed Funds Target Range (FFTR) unchanged at 4.25%-4.50%, as widely anticipated by market participants.

You’ve gotta feel bad for Federal Reserve Chairman Jerome Powell. Since he took over, he’s had to manage the American economy through Covid, post-stimulus inflation, and a bear market in stocks. His job isn’t getting any easier.

Federal Reserve Bank of New York President John Williams said pandemic-era price shocks changed American consumers’ inflation perceptions, and policymakers can’t take for granted that people’s estimates of future price increases will remain anchored.

They must soon decide whether tariffs will push money market rates above or below market expectations — and place their bets. But shrinking tax receipts and federal cost shifting are likely to have a bigger budgetary impact.

Tariffs and fears of a recession complicate what will likely be Jerome Powell's last year as chairman of the central bank.

The S&P 500 and Nasdaq Composite each edged up 0.3%, while the Dow Jones Industrial Average gained 101 points, or 0.2%, building modestly on Tuesday’s sharp rally

Two Federal Reserve District presidents discussed the importance of community banks and what the Fed and other federal agencies are doing to help them, such as through programs and

The latest Consumer Price Index report for April showed a slowing in inflation to 2.3% year over year, the lowest rate in four years.