Federal Reserve Minutes:
- During the June 11-12 meeting, most members observed that US economic growth was gradually slowing.
- Many members believe the current policy stance is restrictive.
- Several members stated that the funds rate might need to rise if inflation stays high or increases further.
Federal Reserve Minutes:
- Some highlighted that further demand weakening could lead to higher unemployment than recently experienced.
- Many members think monetary policy should be ready to react to unexpected economic downturns.
- Members viewed May's CPI reading as further evidence of progress toward the inflation goal.
- The committee has made modest progress toward the 2% inflation target in recent months.
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