According to online reports, the Federal Reserve minutes mentioned that staff continue to notice a large amount of uncertainty surrounding trade policy and other economic policies, and now believe that the uncertainty of forecasts has increased relative to the average level of the past 20 years. The risks to actual economic activity are seen to be leaning downward, and staff believe that the probability of the economy slipping into a recession is almost as great as the baseline forecast. The sharp increase in inflation forecasts for 2025 is seen as an attempt to balance the risks surrounding inflation forecasts for that year. Since then, Fed staff have continued to believe that risks surrounding inflation forecasts are skewed upwards, and recent increases in some indicators of inflation expectations have raised the possibility that inflation will be more durable than the baseline forecast assumptions.