Fed cautious on rate hikes – minutes

WASHINGTON, D.C.: Federal Reserve policymakers appeared willing to wait longer to begin raising rates, in the absence of any inflationary pressures, the minutes of the Fed’s January meeting showed on Wednesday (Thursday in Manila).

Many members of the Federal Open Market Committee (FOMC) were more concerned about moving too soon and stifling economic growth, especially given the troubled economies in Europe and Asia, the record showed.