Institution: New tariffs on August 1 may bring pressure to the Federal Reserve.

Institutional analysis indicates that the minutes of the Federal Reserve meeting show that officials expressed constructive views on the economy at the June meeting and felt reassured about the outlook, as the trade war seems to be cooling down compared to the impact of the high tariffs announced on "Liberation Day" in April. The minutes of the meeting stated: "Participants agreed that the risks of rising inflation and weakening labor market conditions have decreased, but remain high, due to the lower expected path of tariffs, encouraging recent inflation and inflation expectations data, the resilience of consumer and business spending, and improvements in some consumer or business confidence indicators." However, as of this week, the fact that tariffs will once again be raised on August 1st has become a certainty, which may leave the Federal Reserve hesitant at its meeting later this month.