The decline of dovishness is not news, but "removing easing language" is a signal flare.

Federal Reserve officials last month recognized that a war with Iran could boost inflation, with more members advocating for paving the way for possible rate hikes. Before Wosh took office, the decision-making team was increasingly leaning hawkish, with hawks warning about inflation and opposing rate cuts growing stronger, while dovish members still favored rate cuts but were gradually diminishing. Minutes also show that many participants preferred to remove language indicating future easing decisions. The core reason remains inflation pressure; if inflation stays above the target, the April meeting again indicated the possibility of a rate hike.