FED: Instant Answers For FOMC Minutes

The FOMC noted disappointing readings on inflation over the first quarter and
strong economic momentum and assessed it would take longer than previously
anticipated for them to gain greater confidence that inflation was moving
sustainably toward 2%, according to the minutes of the April 30-May 1 FOMC
meeting published Wednesday.

* Did any participant mention the possibility of raising the fed funds rate?

  YES. "Various participants mentioned a willingness to tighten policy further
  should risks to inflation materialize in a way that such an action became
  appropriate."

* How many participants opposed the decision to begin tapering QT in June?

  Unclear. "Almost all participants" supported starting QT taper in June, but
  "a few participants indicated that they could have supported a continuation
  of the current pace of balance sheet runoff at this time or a slightly higher

redemption cap on Treasury securities than was decided upon."