Federal Reserve meeting minutes: Some participants are willing to consider a rate cut at the next meeting

The latest released minutes of the Federal Reserve's June meeting show that participants generally believe that, considering the prospects for monetary policy, the current monetary policy may be moderately restrictive due to the solid economic growth and labor market. The committee is fully capable of waiting for clearer signs of inflation and economic activity before making any changes. Some participants indicated that if data developments align with their expectations, they would be willing to consider lowering the target range for the policy rate at the next meeting. Some participants believe that the most likely appropriate monetary policy path is to keep the federal funds rate target range unchanged this year and point out that recent inflation data continue to exceed the committee's 2% target. Several participants commented that the current target range for the federal funds rate may not be far above the neutral level.