Economics
Fed Minutes Reveal Caution on Rates Missing From Statement
- Many participants said committee could afford to be patient
- Said recent events made extent, timing of policy less clear
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Minutes of the Federal Reserve’s December meeting revealed policy makers took a more cautious approach to further rate increases than their statement indicated.
“Many participants expressed the view that, especially in an environment of muted inflation pressures, the committee could afford to be patient about further policy firming,’’ the central bank said in minutes of its Dec. 18-19 policy meeting released Wednesday in Washington.