Internet reports that the latest released minutes of the Federal Reserve's May meeting showed that Fed staff admitted at the last meeting that they may face "difficult trade-offs" in the coming months, facing both rising inflation and rising unemployment. Estimates by Fed officials of an increased risk of a recession support this outlook. The simultaneous rise in inflation and unemployment will force members to decide whether to prioritize tightening monetary policy to fight inflation or cut interest rates to support economic growth and employment. As the economy adapts to higher import taxes proposed by the Trump administration,"almost all participants said inflation may be more persistent than expected." The Fed expects inflation to rise "significantly" this year due to the impact of tariffs, while the job market is "expected to weaken significantly" and unemployment will rise above long-term expectations for full employment by the end of the year and will remain at this level for two years.