Federal Reserve officials’ concerns about inflation being stoked by the Iran war intensified in April. A majority of Fed policymakers at their April 28 to 29 meeting felt “some policy firming would likely become appropriate” if inflation stays persistently above the central bank’s 2 per cent target, according to minutes of the meeting released yesterday..

“To address this possibility, many participants indicated that they would have preferred removing the language from the post-meeting statement that suggested an easing bias regarding the likely direction of the committee’s future interest rate decisions,” the minutes of the meeting said

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