#FED FOMC Minutes Published:

•The majority of the members who attended the Fed's June 11-12 meeting evaluated that US economic growth was gradually cooling down.

•The majority saw that the economy was slowly cooling down.

•Some officials said a further cooling in the labor market could mean more layoffs.

•Most Fed members viewed the current policy stance as restrictive.

•Some Participants said policy should be prepared to respond to unexpected economic weaknesses.

Markets need to be watched carefully.

- Further slowdown in the labor market may be necessary to achieve the targets.

- Trade tensions and geopolitical developments pose risks to the inflation target.

-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.