Labor market, economy could be cooling - Fed minutes (Il Sole 24 Ore Radiocor) - New York, 04 Jul - US Federal Reserve officials at their most recent meeting in June welcomed signals indicating inflation was cooling but cautioned more evidence was needed to show the trend was sustainable.

'Participants affirmed that additional favorable data were required to give them greater confidence that inflation was moving sustainably toward 2%,' the central bank said in minutes of the June 11-12 Federal Open Market Committee meeting.

The officials indicated there was no rush to reduce borrowing costs with some even indicating a readiness toward raising rates if necessary.

They also highlighted data signalling the labor market and the wider economy could be cooling.

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(RADIOCOR) 04-07-24 14:15:00 (0385) 5 NNNN