1404 ET - At both Fed meetings so far this year, a group of officials have advocated for removing language in the Fed's policy statement suggesting that the Fed's next move will be another rate cut. That signal, implying a bias toward further easing, comes from a phase in the second paragraph of the statement referring to "the extent and timing of additional adjustments" to the Fed's rate target. The word "additional" implies future moves will add on to the easing that the Fed accomplished in 2024 and 2025. At the April meeting, three Fed officials who are concerned about persistent inflation, Beth Hammack, Lorie Logan and Neel Kashkari, felt strongly enough that that phrase should be removed that they voted against the policy statement. (matt.grossman@wsj.com; @mattgrossman)

(END) Dow Jones Newswires

April 29, 2026 14:04 ET (18:04 GMT)

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