PANews reported on May 21 that, according to Jinshi News, Nick Timiraos, a "Federal Reserve mouthpiece," stated that Fed officials have almost stopped discussing the issue that dominated the policy debate for the past two years—whether to cut interest rates—and instead began to seriously consider the opposite direction at last month's meeting: whether to raise interest rates. The minutes of the April policy meeting showed that "most participants emphasized that if inflation continues to remain persistently above 2%, further tightening of policy may become appropriate." The April meeting was Powell's last as Fed chairman, and its minutes highlight how the Middle East conflict has reshaped the outlook for the interest rate decision committee. Warsh will take over the committee after being sworn in at the White House on Friday.