Fed mulls changing plans over rate hikes - minutes



Federal Reserve officials once considered changing their game plan on raising interest rates throughout this year, based on the minutes of their latest meeting. The minutes also showed policymakers were concerned a global economic degeneration could affect the United States and agreed the uncertainty had escalated since their decision to increase rates in December. Members unanimously voted to hike rates by 25 basis points last year for the first time since 2006. Since then, oil prices have continued to decline and global stock markets have been more volatile. Some officials felt they need to wait to further raise rates due to rigid economic conditions to ensure the US economic outlook is not dwindling and inflation is not below their 2% target.

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