On July 10 (UTC+8), institutional analysis pointed out that the Federal Reserve meeting minutes showed that officials expressed constructive opinions on the economy at the June meeting and were relieved about the outlook, as the trade war seemed to be cooling down compared to the impact of the high tariffs of "Liberation Day" announced in April. The meeting minutes stated: "Participants agreed that the risks of rising inflation and weakening labor market conditions have decreased but remain high, citing 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 tariff increase on August 1 has become a foregone conclusion, which may make the Federal Reserve hesitant at the meeting later this month. (Source: Jinshi) [MetaEra]