Online reports that the latest released minutes of the Federal Reserve's June meeting showed that participants pointed out that if the imposition of tariffs leads to a higher inflation rate than expected and lasts longer than expected, or there is a significant increase in inflation expectations in the medium-or long-term, then maintaining a stricter monetary policy stance will be appropriate, especially if labor market conditions and economic activity are stable. However, if labor market conditions or economic activity weaken substantially, or if inflation continues to fall and inflation expectations remain well stable, then it will be appropriate to establish a less restrictive monetary policy stance. Participants noted that if high inflation is more persistent and employment prospects weaken, the committee could face difficult trade-offs.