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Stocks rose slightly on Wednesday after minutes of the Federal Reserve’s most recent policy meeting showed the central bank may continue to raise interest rates by half a percentage point in June and July, to cope with rising inflation and avoid economic growth. Amidst the growing urgency for recession

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The stock rose higher as investors gauged the minutes of the Fed’s policy meeting in May: The Dow Jones Industrial Average rose 0.3%, up more than 100 points, while the S&P 500 rose 0.8% and the Nasdaq Composite 1.4%.

latest Minute show that there is a general consensus among Fed officials about the growing need for tighter monetary policy from the central bank, while interest rates can be raised more rapidly than currently market prices.

Most officials agreed that it would be necessary to continue the current momentum of aggressive monetary policy and increase the interest rate gap to 0.50% at upcoming meetings in June and July.

According to the latest minutes, the Fed should “sharply shift monetary policy stance towards a neutral currency,” but a “restrictive” stance on policy may be appropriate, “depending on the evolving economic outlook and risks”.

While the central bank is monitoring the economic impact of rising inflation, which slowed economic growth in the first quarter, officials expect GDP growth to pick up again in the second quarter and “proceed at a solid pace for the remainder of the year.” “

Retail and consumer stocks, which have been hit hard over the past few weeks following disappointing earnings and profit warnings from several major companies, retraced some of their recent losses and led the market gains on Wednesday.