The latest published minutes from the Fed's June meeting show that, when considering the monetary policy outlook, participants generally believe that, due to the robust economic growth and labor market, the current monetary policy may have moderate restrictions, and the committee is fully capable of waiting for inflation and economic activity prospects to become clearer. Some participants noted that if the data developments align with their expectations, they would be willing to consider lowering the target range for the policy interest rate at the next meeting. Some participants believe that the most likely appropriate monetary policy path is to not lower the target range for the federal funds rate this year, noting that recent inflation data continues to exceed the committee's 2% target. Several participants commented that the current target range for the federal funds rate may not be far above the neutral level.