Fed worried it could face 'difficult tradeoffs' if tariffs reaggravate inflation, minutes show
1. Fed officials worry tariffs may aggravate inflation and complicate interest rates. 2. Meeting minutes show increased uncertainty about economic and trade policies. 3. Solid economic growth noted, though risks to labor market are growing. 4. No cuts to rates expected until September; futures reflect this caution. 5. Recent tariff easing between U.S. and China spurred Wall Street rally.