According to the recent minutes of the Fed's July meeting, some Fed officials are increasingly concerned about the slowing economic growth. At the meeting that ended at the end of July, several participants anticipated that economic activity growth would remain sluggish in the second half of this year.

The minutes of the meeting also pointed out that some officials noted that the slowdown in actual income rise may be suppressing the growth of consumer spending, reflecting the challenges faced by the household sector. It is worth noting that these views were expressed a few days before the July employment report was released. The subsequently published employment report showed that the estimated new jobs for May and June were significantly revised down by 258,000.

The downward revision of this employment data may further exacerbate some officials' concerns about the economic slowdown, especially considering the weak performance of the labor market. Since the July meeting, this sense of concern may have deepened.

Overall, Fed officials seem to be closely monitoring key indicators such as economic growth, the labor market, and consumer spending to assess the overall health of the economy. These discussions and observations will have significant implications for future monetary policy decisions, potentially affecting interest rate trends and economic stimulus measures.

As economic data continues to be updated, market participants and policymakers will closely monitor changes in the Fed's stance, as well as the potential policy adjustments that may arise from these changes.