# Most FOMC participants say they may raise rates ‘soon’, minutes show - Central Banking

> Minutes of the May FOMC meeting show most participants believe it would soon be appropriate to raise rates again if incoming data confirm their outlook. The federal funds rate was held in a range of 1.5% to 1.75%, and unemployment is reported at its lowest since December 2000.

- Date: 2018-05-24 · published 2018-05-24T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/64945-most-fomc-participants-say-they-may-raise-rates-soon-minutes-show-central
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Expected tightening tends to strengthen the dollar, which pressures dollar-priced commodities and can weigh on grain and oilseed prices while supporting the cost of carrying inventories.

## Read by commodity

- DXY: bullish ▲
- SOY: bearish ▼
- CORN: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2025-12-30 | [Breaking: FOMC Minutes showed most officials judged further rate cuts would be appropriate](https://feedsoft.ai/events/21686-breaking-fomc-minutes-showed-most-officials-judged-further-rate-cuts-would-be.md) | +0.2% | -1.7% |
| DXY | 2022-06-07 | [Australia's central bank raises rates by 50 basis points](https://feedsoft.ai/events/41206-australia-s-central-bank-raises-rates-by-50-basis-points.md) | +2.4% | +4.0% |
| DXY | 2018-08-22 | [FOMC minutes: More hikes coming soon; trade a worry \| Reuters](https://feedsoft.ai/events/63459-fomc-minutes-more-hikes-coming-soon-trade-a-worry-reuters.md) | -0.5% | -0.2% |
| DXY | 2024-02-21 | [Fed worried about cutting rates too soon, minutes of January meeting show](https://feedsoft.ai/events/31868-fed-worried-about-cutting-rates-too-soon-minutes-of-january-meeting-show.md) | -0.0% | -0.1% |
| DXY | 2024-06-28 | [China’s central bank puts the yuan’s exchange-rate swings in crosshairs \| South China Morning Post](https://feedsoft.ai/events/30006-china-s-central-bank-puts-the-yuan-s-exchange-rate-swings-in-crosshairs-south.md) | -0.7% | -0.5% |
| CORN | 2023-06-27 | [Brazil central bank minutes raise possibility of August rate cut \| Reuters](https://feedsoft.ai/events/35693-brazil-central-bank-minutes-raise-possibility-of-august-rate-cut-reuters.md) | -7.9% | +0.0% |
| CORN | 2023-09-21 | [Stocks fall, yields rise as central banks rattle markets](https://feedsoft.ai/events/34308-stocks-fall-yields-rise-as-central-banks-rattle-markets.md) | -0.2% | +0.5% |
| CORN | 2020-03-04 | [Brazil central bank to intervene in FX swaps market on Thursday](https://feedsoft.ai/events/54310-brazil-central-bank-to-intervene-in-fx-swaps-market-on-thursday.md) | +1.1% | -0.6% |

## Sources

- centralbanking.com: https://www.centralbanking.com/central-banks/monetary-policy/monetary-policy-decisions/3535036/most-fomc-participants-say-they-may-raise-rates-soon-minutes-show

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.