Minutes from the January Federal Reserve meeting show policymakers growing increasingly concerned about the global economic slowdown and market volatility. Shartia Brantley reports.
Minutes from the Federal Reserve's January meeting indicate a vivid discussion on global economic conditions. The Fed left interest rates in the quarter to half percent range after hiking rates in December for the first time in nearly a decade. As the U.S. labor market strengthens, continued volatility in global markets and economies may pose a threat to the Fed's intention to continue to hike rates this year. FAO Economics' Robert Brusca: (SOUNDBITE) ROBERT BRUSCA, CHIEF ECONOMIST, FAO ECONOMICS (ENGLISH) SAYING: "I think is technically still in the air. The Fed has gone out of its way to keep March on the table, but I'll be surprised given the turbulence if they raise rates in March." The Federal Reserve is also keeping a close eye on the level of inflation domestically and abroad. Minneapolis Fed President Neel Kashkari: (SOUNDBITE) NEEL KASHKARI, PRESIDENT, MINNEAPOLIS FED (ENGLISH) SAYING: "We are seeing a lot of low inflation in most of the major economies around the world and that's something that is obviously concerning." The Federal Reserve will get more economic data before its next FOMC meeting which starts on March 15th.