- All participant voted for 50 basis point hike
- 50 basis point increase is likely appropriate to the next couple of meetings
- concerned about the risks from higher income commodity prices
- Inflation remained elevated, reflecting continued supply and demand imbalances, higher energy prices, and broader price pressures. Inflation risk being skewed to the upside
- Restrictive stance on monetary policy may well become appropriate
- Fed should move expeditiously to neutral
- China lockdowns and Ukraine increased risks. New inflation pressures received from China as well as the Ukraine war, and were likely to weigh on economic activity
- Several thought the potential for unanticipated effects in the financial markets from the run off of the balance sheet
- Many expect tight labor market and wage pressures to continue for some time
- Members judged that the implications of the war for the U.S. economy were highly uncertain
- Higher wages and input prices were being passed on to consumers. Of course that will always happen
- COVID-related lockdowns in China were likely to exacerbate supply chain disruptions
- Although overall economic activity had edged down in the first quarter, household spending and business fixed investment had remained strong
- Job gains had been robust in recent months, and the unemployment rate had declined substantially.
- Should assess the risk the economy later this year after the rate hikes
You can read all from FED website: May FOMC Meeting 2022
Stocks Are up with 1%, because members of FOMC avoid risks of recessionary environment
