Officials thought regulators had soothed banking turmoil enough to justify a quarter-point rate increase, meeting minutes show
Stubbornly high inflation and tight labor markets led Federal Reserve officials to signal they could raise interest rates at their next meeting despite a greater likelihood of a recession later this year.
Read more here: https://www.wsj.com/articles/inflation-report-keeps-a-may-interest-rate-increase-in-play-fd105729
