With relative calm at the central bank about the future path for interest rates and no press conference or economic forecasts to prepare, the Federal Reserve’s meeting at the beginning of the month was a time to debate big-picture topics and some new ideas that might get floated to the market. Fed officials kept rates steady after the May 1-2 meeting and made only a few tweaks to their five-paragraph statement that mainly signaled a willingness to tolerate inflation above the 2% target. (full story)