Some participants said the Fed "should stand ready to use its Liquidity facilities" to offset the damage from a possible default. Waller said that he does not support stopping interest rate hikes, whether to skip the rate hike in June or to increase in July depends on the data in the next three weeks. Bostic said that he does not want to be trapped in a specific rate adjustment rhythm (jump skip/rate hike in June), and it is best to consider a rate cut next year.
Fed Minutes: Rate cut unlikely, split on further hikes
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According to the minutes of the Fed's May meeting, officials were divided on whether to raise interest rates further (the minutes suggested a relatively large number of hawks), and a rate cut is unlikely.
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