Wow! The Federal Reserve's May Inflation Forecast Was Just Updated, and Things Are Looking Worse for Wall Street.

High energy prices risk keeping inflation above 2% target, concerning Fed policymakers

Fed officials expect rate hikes if inflation continues.

Fed minutes raise the prospect of rate hikes, impacting advisors' strategies.

The Federal Reserve warns that inflation risks are tilted to the upside, and the economic outlook is slightly stronger than expected.

The Wall Street Journal reports that the Fed minutes indicate support for rate hikes if inflation proves persistent.