The Marriner S. Eccles Federal Reserve building in Washington, D.C. Photographer: Valerie Plesch/Bloomberg
Minutes from the Federal Reserve's latest gathering show most officials remained more worried about the risk of cutting interest rates too soon than keeping them high for too long and damaging the economy.
A summary of the January 30 and 31 Federal Open Market Committee (FOMC) meeting, which were released Wednesday, showed policymakers want to see more evidence that inflation is firmly on a path to their 2 percent target before they start lowering interest rates, with some raising concerns that progress could stall. The minutes reinforced expectations that borrowing costs will remain high for the foreseeable future.
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