Federal Reserve officials, during the April 30-May 1 policy meeting, expressed concerns about the persistence of inflation, indicating that it might not slow down as quickly as previously anticipated. The officials concluded that it would take longer than expected for inflation to cool sufficiently to warrant a reduction in the key interest rate. The meeting minutes highlighted a 'decidedly hawkish tone' from the Federal Open Market Committee (#FOMC), with participants suggesting that the disinflation process could be prolonged. The focus has shifted to the debate on whether goods prices will continue to fall, as the Fed intensifies its efforts against inflation.