Internet reports that the latest released minutes of the Federal Reserve's June meeting showed that participants judged that the labor market situation was still solid and at or near the estimated level of maximum employment. Several participants noted that recent stability in the labor market reflects a slowdown in hiring and layoffs, and several also mentioned that their contacts and business survey respondents said hiring decisions were suspended due to rising uncertainty. Several participants pointed out that immigration policies are reducing the supply of labor. In their outlook for the labor market, most participants believed that tariff increases or increased policy uncertainty would depress labor demand, and many expected the situation to gradually weaken. Some participants pointed out that some indicators are already showing signs of weakness and will be closely watching for signs of further weakening in the job market. Some participants pointed out that wage growth continues to slow and is not expected to cause inflationary pressures.