The Globe and Mail reports in its Thursday, July 9, edition that concerns about high inflation grew at last month's U.S. central bank meeting, as officials, following Fed Chair Kevin Warsh, adopted a simpler policy statement amid worries that widespread price increases may necessitate interest rate hikes. A Reuters dispatch to The Globe reports that a "few participants" at the June 16-17 meeting said there was already a case to raise borrowing costs, even though they ultimately agreed with their colleagues to hold rates steady "at this meeting." The debate appeared evenly divided, with most participants believing inflation could naturally fall to the Fed's 2-per-cent target, while others thought it might remain high. Almost all in the latter group viewed a rate increase as necessary if inflation continued to be elevated. It was clear from the readout that inflation dynamics were unsettling for a number of policy-makers, with new concerns such as the inflationary impact of booming investments in artificial intelligence introduced into the debate. Though some Fed analysts had expected Mr. Warsh might lead an overhaul of the minutes as well, the format generally remained the same. The document, however, was about 1,000 words or 20 per cent shorter.