Federal Reserve Meeting Minutes: Tariffs Pose Upside Pressure on Price Inflation of Goods

ChainCatcher news, according to the minutes of the Federal Reserve's July meeting, the actual GDP growth rate in the first half of the year was moderate. The unemployment rate remains low, and consumer price inflation is still relatively high. The trend of slowing inflation seems to have stalled, with tariffs putting upward pressure on commodity price inflation.

After significantly dragging down GDP growth in the first quarter, net exports made a substantial positive contribution in the second quarter. The actual imports of goods and services fell sharply, which may be due to the follow-up effects of a large amount of early imports in the first quarter in anticipation of expected tariff increases. In contrast, the decline in goods exports was more moderate, while service exports continued to grow.