Nick Timiraos writes that last month the Fed chair presided over their first in-office meeting, where the committee unanimously left rates unchanged. Consensus was initially easy because few members wanted to act, but Timiraos says sustaining it will be harder as some colleagues grow more concerned about inf and may push to discuss hikes at the Fed’s July 28-29 meeting. The chair will have an opportunity to shape consensus during congressional testimony this week and will possess the June inf pr

Nick Timiraos writes that last month the Fed chair presided over their first in-office meeting, where the committee unanimously left rates unchanged. Consensus was initially easy because few members wanted to act, but Timiraos says sustaining it will be harder as some colleagues grow more concerned about inf and may push to discuss hikes at the Fed’s July 28-29 meeting. The chair will have an opportunity to shape consensus during congressional testimony this week and will possess the June inf print — the last major data before the meeting.