Federal Reserve Meeting Minutes: Many participants said that despite the recent rise in long-term treasury yields, the financial situation still seems to support economic growth. A few participants pointed out that the US Treasury bond market has been running smoothly, but emphasized the importance of planning ahead for market pressures. Officials said future data will determine the direction of interest rates. A number of officials said the policy was not tight enough. Officials said there has not been enough progress in reducing inflation over the past few months. A number of officials said that the possibility of further imposing tariffs poses a risk of increasing inflation. Officials generally expect inflation to remain high in the short term.

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