Market Speak: Caution urged as trade risks grow- FOMC minutes

Minutes from the Fed's May FOMC meeting revealed that officials viewed recent tariff hikes as larger and broader than expected, fueling high uncertainty around trade policy. Policymakers noted elevated downside risks to jobs and growth, and upside risks to inflation. With economic conditions still solid, they agreed the Fed could stay patient, emphasizing a cautious approach until the impact of recent policy shifts becomes clearer.

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