Many Federal Reserve policymakers were warning of “appreciable” risks to the US economy from global turbulence at their latest meeting as the deeply divided group debated how soon to further increase short-term interest rates.
Worries about the central bank’s ability to ease policy if the US unexpectedly hit the buffers hung heavily over the March 15-16 meeting, at which all but one member of the Federal Open Market Committee voted to keep rates on hold.
The minutes to the March meeting revealed policymakers at loggerheads over when next to tighten policy following December’s rise, as some advocated a move as soon as April while others warned this would show undue urgency.
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