Federal Reserve Highlights Economic Trends in July Meeting Minutes

According to BlockBeats, the Federal Reserve released the minutes from its July meeting, highlighting several key economic trends. The report noted that the actual GDP growth rate was moderate in the first half of the year. The unemployment rate remained low, while consumer price inflation stayed relatively high. The slowdown in inflation appeared to have stalled, with tariffs exerting upward pressure on goods price inflation. Net exports, which had significantly dragged down GDP growth in the first quarter, made a substantial positive contribution in the second quarter. There was a notable decline in the actual import of goods and services, likely a result of the large-scale advance imports in the first quarter in anticipation of expected tariff increases. In contrast, the decline in goods exports was more moderate, and service exports continued to grow.