"Fed Whisperer" Nick Timiraos stated that due to rising inflation, some Fed officials lack confidence in cutting interest rates, and some decision-makers at last month's meeting called for close attention to signs of fatigue in the job market, which may be faster than expected. The minutes of the June Fed meeting showed that "several participants indicated that monetary policy should be prepared to respond to unexpected economic weakness at any time." Officials also listed several economic developments, including slowing wage growth, declining corporate pricing power, and increased consumer sensitivity to price increases, to support their expectation that inflation will continue to decline over the next year. The minutes showed that officials were generally satisfied with their wait-and-see stance on interest rate changes and emphasized a range of views that could prompt the Fed to raise or lower interest rates. Combined with recent public statements by Fed officials, the minutes suggest that they are unlikely to cut interest rates at their meeting later this month.