“A number of participants” at the April meeting of the US Federal Open Market Committee “suggested that if the economy continued to make rapid progress toward the committee’s goals, it might be appropriate at some point in upcoming meetings to begin discussing a plan for adjusting the pace of asset purchases,” according to meeting minutes released May 19. That means the Fed hasn’t agreed to talk about the inflation problem, but it might agree to talk about it in the future, which isn’t the same as doing something about it. But the threat of such a discussion was enough on Wednesday to push up the yields on ... (full story)