[Minutes of the Federal Reserve Meeting: There are risks in cutting interest rates too late or too early] Golden Finance reported that some participants emphasized that reducing the restrictiveness of policies too late or too little could risk excessively weakening economic activity and employment. Some participants particularly emphasized the costs and challenges of addressing this weakening once it fully begins. However, several participants also said that reducing the restrictiveness of policies too early or too much could lead to a stagnation or reversal of progress in fighting inflation. Some participants pointed out that the uncertainty of the long-term neutral interest rate level complicates the assessment of the degree of policy restrictions, and they believe that it is appropriate to gradually reduce policy restrictions.