# Federal Reserve officials’ concerns about inflation being stoked by the Iran war intensified last month, with a growing number of them saying the central bank should lay the groundwork for a possible rate hike.

*fintech · news · 2026-05-20 · Bnn Bloomberg*

## Key points

- A growing bloc of Fed officials now favors preparing for possible rate hikes amid war-driven inflation.
- April's Fed meeting saw the highest number of policy dissents since 1992, with mixed dissent reasons.
- Minutes revealed many policymakers wanted to remove language signaling an easing bias from Fed statements.
- Since the Iran war began, oil prices have surged over 50%, broadening inflation across goods and services.
- Less than half of surveyed economists now expect any Fed rate cuts by December, down from two-thirds.

**Countries:** United States, Iran, Israel

[Read the full story on Bnn Bloomberg](https://www.bnnbloomberg.ca/business/2026/05/20/fed-minutes-show-more-policymakers-were-prepared-to-lay-groundwork-for-rate-hike/)

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