Fed Braces for Smaller Rate Increases Ahead, Talks Recession Risks: Minutes

The Marriner S. Eccles Federal Reserve Board building in Washington on March 16, 2022. Saul Loeb/AFP via Getty Images

The Federal Reserve doesn’t believe inflation pressures are easing, according to minutes from this month’s Federal Open Market Committee’s (FOMC) policy meeting.

Meeting participants noted that inflation risks were “skewed to the upside,” saying that “a persistent reduction in inflation could require a greater-than-assumed amount of tightening in financial conditions.”