Federal Reserve meeting minutes: Most attendees believe that tariff hikes or increased policy uncertainty will suppress labor demand

According to a report by Golden Finance, the latest minutes of the Federal Reserve's June meeting showed that attendees judged the labor market situation to be still stable, at or near the estimated level of maximum employment. Several attendees pointed out that the recent stability of the labor market reflects a slowdown in recruitment and layoffs. Several attendees also mentioned that their contacts and business survey respondents stated that recruitment decisions have been suspended due to rising uncertainty. Several attendees pointed out that immigration policies are reducing labor supply. In the outlook for the labor market, most participants believe that tariff increases or increased policy uncertainty will suppress labor demand, and many participants expect the situation to gradually weaken. Some attendees pointed out that some indicators have shown signs of weakness, and they will closely monitor any further signs of a weakening in the job market. Some attendees pointed out that wage growth continues to slow down and is not expected to cause inflationary pressure.