FOMC Minutes Show 'Almost All' Fed Members See Higher Inflation Risks, Cite Trump Policies Tl;dr: Fed officials are worried about the inflation impacts from Trump's policies: Minutes So the Fed is not reactive (even when inflation is biting it in the ass), but is PROACTIVELY hostile toward the policy of a president it disagrees with even if said policy doesn't even exist? * * * Since The Fed's last meeting (Dec 18th) where they issued a 'hawkish cut', bonds and stocks have been dumped while crude and gold have strengthened along with the dollar.