Federal Reserve Minutes:
-The majority of participants at the Federal Reserve meeting on June 11-12 evaluated that US economic growth was gradually cooling.
-Most participants think that the current policy stance is restrictive.
-Many participants said that the funds rate may need to be increased if inflation remains high or increases further.
Federal Reserve Minutes:
-Some have specifically emphasized that further weakening of demand could lead to a greater unemployment response than in the recent past.
-Many participants believe that monetary policy should be prepared to respond to unexpected economic weakness.
-Participants saw May's CPI reading as additional evidence of progress toward the inflation target.
-Participants have made modest progress toward the committee's 2% inflation target in recent months.