During the June meeting, Federal Reserve officials expressed optimism about inflation moving closer to their 2 percent goal, but reiterated that they would not be quick to lower rates without more evidence of a sustained downward trend. The meeting occurred before the release of data showing the slowest annual gain in the "core" PCE index in more than three years. Fed Chair Jerome Powell acknowledged recent disinflationary trends in April and May but stressed the need for further confirmation before considering rate cuts. Some policymakers even suggested that rates may need to be raised if inflation persists at elevated levels. There was debate about the current level of interest rates, with some believing they may not be as restrictive as thought due to the strength of the economy. The Fed's next meeting in July is anticipated to keep rates steady, with market attention turning to potential rate cuts in September.