Link To Fed's Minutes
WASHINGTON (MarketWatch) - Federal Reserve officials at their January meeting
shrugged off past concern and said the outlook for growth and inflation was looking
promising, according to minutes of the meeting released Wednesday. The minutes of
the Jan. 30-31 meeting said that FOMC members saw "a more favorable outlook" for
prices and growth than had been anticipated. Only one month earlier, FOMC members
had been concerned that a "subdued tone" of economic data meant risks to growth
had increased. The Fed members maintained their view that inflation was the top
concern of the central bank. Despite the recent good news on inflation, members said
it was not clear yet that a downtrend on core inflation had been "definitively
established." After all, the drop in energy and rent prices could well be temporary,
members said.