【Federal Reserve Meeting Minutes: Expected Increase in Commodity Prices Smaller than Previously Anticipated】According to Golden Finance, the Federal Reserve released the minutes of its July meeting, which mentioned that staff projections for real GDP growth from this year to 2027 are similar to those made in June, reflecting the offsetting effects of several outlook revisions. Staff expect that the increase in import costs, including tariffs, will be smaller than previously forecasted and that the timing of the increase will be delayed; furthermore, financial conditions are expected to provide slightly stronger support for output growth. However, these positive impacts on the economic outlook are offset by weaker-than-expected spending data and the net immigration's contribution to population growth being lower than assumed levels. Staff still expect the labor market to weaken, with the unemployment rate likely to rise above the estimated natural rate by the end of this year and to remain above the natural rate until 2027.