According to CoinMeta, the minutes of the Federal Reserve meeting show that officials' concerns about inflation deepened further at the July meeting. Several policymakers are ready to raise interest rates, and many officials stated that if inflation cannot be reduced to the Fed's target level of 2%, it will be necessary to increase borrowing costs. The meeting minutes indicate that officials in favor of raising rates believe that price pressures seem to be widespread, and that the Policy Making Committee should adopt a more restrictive policy stance to continuously achieve price stability and maximum employment goals. These officials believe that if no action is taken, more substantial and costly tightening measures may be required in the future. The meeting minutes also state that many participants believe that if inflation does not decline, monetary policy will likely need to be further tightened.