. The 18 committee members appear split between those who favor one or two more rate hikes and those who would like to leave the Fed’s key rate where it is for at least a few months and see whether inflation further moderates. This group is concerned that hiking too aggressively would heighten the risk of causing a deep recession.to both camps, with overall price increases sharply slowing but some measures of underlying inflation remaining high.
Tuesday’s inflation data showed that most of the rise in core prices reflected high rents and used car prices. Those costs are expected to ease later this year. “We think next month’s increase is probably the last of the cycle,” said Alan Detmeister, an economist at UBS.
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