Jan 9, 2019

Fed minutes reveal some reluctance to hike interest rates

Jerome Powell speaks during a press conference on Dec. 19, 2018.

Fed chair Jerome Powell speaks after December's Fed meeting. Photo: Xinhua/Liu Jie via Getty Images

The Federal Reserve's decision to hike rates in December was unanimous, but minutes of the meeting released on Wednesday showed that a few Fed members were reluctant and thought the Fed "could afford to be patient" about further rate hikes.

Why it matters: The minutes reflect a sentiment that Fed chair Jerome Powell echoed at a conference last week, when he said the Fed "will be patient as we watch to see how the economy evolves."

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