美联储会议纪要：多数与会者认为关税上调或政策不确定性加剧将打压劳动需求

Core Viewpoint - The Federal Reserve's June meeting minutes indicate that most participants believe that increased tariffs or heightened policy uncertainty will suppress labor demand [1] Labor Market Conditions - Participants assess that the labor market remains solid, close to maximum employment levels [1] - A slowdown in hiring and layoffs has been noted, reflecting stability in the labor market [1] - Some participants reported that contacts and survey respondents indicated a pause in hiring decisions due to rising uncertainty [1] Immigration Policy Impact - Immigration policies are contributing to a reduction in labor supply, as noted by several participants [1] Labor Demand Outlook - Most participants expect that increased tariffs or greater policy uncertainty will negatively impact labor demand, with many anticipating a gradual softening of conditions [1] - Some indicators have already shown signs of weakness, prompting close monitoring of further labor market deterioration [1] Wage Growth and Inflation - Wage growth continues to slow, and participants do not expect it to create inflationary pressures [1]