Golden Finance reported that the minutes said officials agreed that the larger rate cuts adopted at the meeting should not be seen as a signal of concern about the economic outlook, nor as a signal that the Fed is ready to cut rates quickly. Officials who commented on the degree of restrictiveness of monetary policy believed that monetary policy was restrictive, although they held a range of different views on the degree of restrictiveness. Participants also emphasized that it is important to communicate. The importance of communication is to clearly convey that the committee's monetary policy decisions depend on the evolution of the economy and its impact on the economic outlook and the balance of risks, so this is not a preset course. In addition, some participants said that even if the committee lowers the target range for the federal funds rate, the Fed's balance sheet reduction process may continue for some time.