The Federal Reserve report stated that labor supply is slowing down, and officials have differing opinions on future interest rate trends.

According to the financial news app Zhtng Cijng, on Friday, the Federal Reserve submitted its semi-annual monetary policy report to Congress in June, stating that since mid-2024, there has been a significant decrease in immigration, resulting in a slowdown in the growth of labor supply. As employment growth gradually cools down, this has helped maintain balance in the labor market. The report stated, "The growth of labor supply is not as strong as in previous years, mainly due to a significant decrease in immigration, coupled with a slight decline in the labor participation rate."