WASHINGTON (Reuters) – The Federal Reserve’s May 3-4 policy meeting ended with a half-percentage-point rate increase and what Chair Jerome Powell has termed a “broad sense” that similar increases would be approved when policymakers gathered in June and again in July to curb inflation that is far above the U.S. central bank’s 2% target.

Minutes from the May session will be available at 2 PM EDT (1800 GMT), Wednesday. This could begin shaping the future debate.

The planned rate increases in June and July have been supported by policy officials from all sectors. They are aligned with Powell’s efforts to reduce inflation as the Fed’s main priority.

But beyond that, officials have begun laying out a broad range of positions, from an outright pause in rate increases this fall to calls for an aggressive string of half-percentage-point increases at the September, November and December meetings.

In the minutes of Wednesday’s meeting, it may be discussed whether there is an appetite for higher incremental rates increases of three quarters of a percent point.

Citibank’s analysts stated that they are open to discussing growth and inflation issues as Fed officials attempt to guide the economy through its current inflation problem without leading it into recession.

The inflation data have not shown a significant decrease from levels which shocked Fed officials. They are often compared to the inflation shocks that occurred in the 1970s or early 1980s. The Fed prefers to measure inflation at three times or more the target.

Some analysts are raising their chances of recession and investors in federal funds rates-linked contracts have reduced their projections of the future interest rate.