During the Fed’s last meeting, some officials generally agreed that further interest rate hikes will not be needed.
Despite this, other officials feel that the Fed needs to leave the door for further interest rate hikes open, with inflation still far from the 2% target.
The interest rate hikes have managed to slow down inflation, with a mild recession projected for later this year.
May’s data is set to be announced at the beginning of June and will play a big role in the Fed’s decision during its upcoming meeting.
The Fed will get together on June 13-14 in order to decide on interest rates.
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