According to CoinMeta, minutes from the Federal Reserve meeting show that Fed officials consider the inflation outlook to be “highly uncertain,” and the renewed escalation of the Iran war has “cast a shadow over the inflation outlook.” Officials noted that the labor market remains stable, with labor demand and supply in balance. In their post-meeting statement, officials almost entirely replicated the wording used in their June statement, reiterating their commitment to “achieving price stability” once again. They also continued to describe economic growth as “solid” and pointed out that both capital investment and productivity growth rates are strong. The July vote marked the fifth time in a row that the Fed chose to keep interest rates unchanged, following three consecutive rate cuts at the end of 2025.