FOMC Minutes Signal A Rate Hike Ahead If Inflation Persists

On today’s Hot Sheet, Byron Lazine discussed CNBC reporting on FOMC minutes showing most Fed officials believe rate hikes could be necessary if inflation stays elevated, despite holding rates at 3.5%-3.75%.

He also covered U.S. Census Bureau data showing April 2026 building permits at 1,442,000, housing starts at 1,465,000, and completions at 1,449,000.

For today’s third topic, Byron reviewed the U.S. Department of Labor’s weekly unemployment report, with initial claims falling to 209,000 while insured unemployment rose to 1,782,000.