Officials agreed that the sharper rate cut passed at the meeting should not be taken as a signal of concern about the economic outlook or that the Federal Reserve is prepared to cut rates quickly, meeting notes. Officials who commented on the degree of monetary policy restraint argued that monetary policy is restrictive, although they held a range of different views on the degree of restraint. Participants also stressed that it is important to communicate. The importance of communication is to clearly communicate that the Committee's monetary policy decisions depend on the evolution of the economy and its impact on the economic outlook and the balance of risks, so this is not a preset course. In addition, some participants said that even if the Committee reduces the target range for the federal funds rate, the process of the Federal Reserve's balance sheet reduction may continue for some time.