Fed minutes reveal some reluctance to hike interest rates
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."