Cailian Press, July 10th – The minutes from the Federal Reserve’s June meeting reveal that policymakers are “quite uncertain” about the potential inflationary impact of tariffs. They do not have a unified answer on how much tariffs will affect inflation, depending on how these tariffs are transmitted to the economy and progress in trade negotiations. Since the June meeting, Fed officials Christopher Waller and Michelle Bowman, based on moderate inflation data, suggested the possibility of a rate cut this month. The minutes indicate that “a minority” of officials are willing to consider cutting rates at the meeting on July 29-30. Most officials believe that “moderately reducing” the policy interest rate for the year might be appropriate. However, most still insist that the United States’ stable economic performance gives them room to be patient when adjusting interest rates. The decision-makers’ assessment of economic growth is “robust,” considering the unemployment rate is low. “Participants believe that despite some reduction in uncertainty regarding inflation and the economic outlook, adjustments to monetary policy should remain prudent.”