Federal Reserve Meeting Minutes: The Federal Reserve is waiting for "more information" to gain confidence in cutting interest rates, and policies need to respond to unexpected economic weakness

According to a report by PANews on July 4, the minutes of the Federal Reserve meeting show that the vast majority of officials believe that US economic growth is gradually cooling down, and most participants think that the current policy stance is restrictive. The Fed is waiting for "more information" to gain confidence in cutting interest rates. Some participants stated that policies should be ready at any time to deal with unexpected economic weakness, and several Federal Reserve officials said unemployment may rise if demand weakens.

The minutes of the Federal Reserve meeting showed that several participants indicated if inflation continues at a higher level or further increases, it might be necessary to raise interest rates. Participants believed there has been further moderate progress towards the committee's 2% inflation target over recent months.

Nick Timiraos, known as "the mouthpiece of the Fed," suggested that their meeting minutes imply they are unlikely to cut interest rates later this month.