The Fed chair suggested the Fed could hold rates steady at its next meeting in September, as investors expect.
The challenge for monetary policy in the year ahead will be to balance inflation with potential recessions.
Two Fed officials spoke after data showed that employment increased at a solid pace in July.
The minutes of the June meeting showed a growing divide among Fed officials.
The minutes shed light on how tricky the decision was for policymakers to achieve.
Philadelphia Fed President Patrick Harker said disinflation has been "disappointingly" slow.
Their strong consensus is showing signs of splintering.
Economic growth appears to have reached or neared an inflection point.
Some Fed officials believe that more rate hikes are warranted to combat inflation, while others call for "prudence."
The Federal Reserve raised interest rates at a ninth straight meeting, to the 4.75% to 5% range.
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