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Fed officials expected inflation-cooling process to be "uneven," meeting minutes show

Posted on AllSides April 10th, 2024
From The Left
Liu Jie/Xinhua via Getty Images

Federal Reserve officials thought inflation was still receding, though that process was expected to be "somewhat uneven," according to minutes released on Wednesday from the Fed's policy meeting last month.

Why it matters: That characterization came before new data that showed yet another month of hotter-than-expected inflation — a sign that faster price increases in key parts of the economy will take longer than anticipated.

What they're saying: Nearly all Fed officials thought it would be "appropriate to move policy to a less restrictive stance at some point this year...

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