Economics
Fed Minutes Show Concern About Global Market Turmoil
- Oil drop, market turmoil, less global growth lift uncertainy
- Tightening financial conditions amplify downside risks
Fed Expressed Concern Over Financial Markets Rout
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Federal Reserve policy makers debating their outlook for interest rates last month expressed concern that the fall in commodity prices and the rout in financial markets increasingly posed risks to the U.S. economy.
“Participants judged that the overall implications of these developments for the outlook for domestic economic activity was unclear but they agreed that uncertainty had increased,” according to minutes of the Federal Open Market Committee’s Jan. 26-27 meeting released Wednesday in Washington. “Many saw these developments as increasing the downside risks to the outlook.”