Federal Reserve warns of inflation risk bias upward Economic outlook slightly stronger than expected

The minutes of the Federal Reserve meeting showed that staff's outlook for economic activity was slightly stronger than the forecast at the March meeting, and actual GDP growth is expected to be slightly higher than potential growth in the next few years. The unemployment rate is expected to be close to long-term levels this year and next, and slightly below this level around 2028. Staff forecasts for inflation this year are higher than at the March meeting, mainly due to the latest data and higher energy prices. Inflation is expected to be close to 2% by the end of next year. Overall, inflation forecast risks are tilted upward, and staff believe that the possibility that inflation will last longer than expected deserves attention.