Some FOMC Members Saw December Rate Rise as `Close Call'
- Fed doves were assured colleagues would monitor inflation rate
- Some officials saw risk 2% inflation target would not be met
Inside the FOMC's Dec. Meeting Minutes
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The Federal Reserve’s decision to raise interest rates last month was a “close call” for some policy makers who worried about too-low inflation and received assurances that their colleagues would closely monitor its progress.
“Some members emphasized the importance of confirming that inflation would rise as projected and of maintaining the credibility of the committee’s inflation objective,” said minutes of the Federal Open Market Committee’s Dec. 15-16 meeting, released Wednesday in Washington.