BlockBeats News, May 21st, the Federal Reserve meeting minutes showed that Fed officials have almost stopped discussing the issue that has dominated the FOMC debate over the past two years—whether to cut interest rates, and have instead begun to more seriously weigh the possibility of a rate hike.

The minutes noted that "Most participants emphasized that... if inflation persistently remains stubbornly above 2%, it may be necessary to further tighten policy." The minutes, from Jerome Powell's final meeting as Fed Chair, highlighted how the Middle East conflict is reshaping the outlook of the rate-setting committee. Kevin Warsh is set to lead the Fed after being sworn in at the White House on Friday. The Fed's next policy meeting is scheduled for June 16th to 17th.