[Federal Reserve Meeting Minutes Reveal Internal Divisions, Inflation and Interest Rate Outlook Unclear] The Federal Reserve concluded its two-day monetary policy meeting on June 17, announcing that the target range for the federal funds rate would remain unchanged at 3.5% to 3.75%. On July 8, the Federal Reserve Board released the minutes of the June monetary policy meeting, which revealed significant divisions among Fed officials regarding the trajectory of U.S. inflation and the future direction of monetary policy. The meeting minutes paid particular attention to the impact of artificial intelligence on inflation. Some officials believe that the sustained strong demand for artificial intelligence could lead to continued increases in the prices of technology products and electricity. However, other officials argued that the productivity gains brought by artificial intelligence applications could ultimately reduce product costs and increase overall supply, thereby driving inflation downward. The minutes specifically noted that the uncertainty surrounding this economic forecast is significantly elevated, primarily due to uncertainties in the Middle East situation and the potential impact of artificial intelligence investments and industries on the economy. (CCTV News)
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