Fed Minutes Show Reluctance To Raise Rates Anytime Soon

(RTTNews) - Policy makers remain concerned about low inflation and lingering economic problems overseas, minutes of the Federal Reserve March 15-16 meeting revealed Wednesday.

A number of Fed officials argued against an April rate hike, thinking this would signal a sense of urgency they did not think appropriate. This is in line with last week's dovish remarks from Fed Chair Janet Yellen, who noted downside risks to the U.S. economy.

"Several participants expressed the view that the underlying factors abroad that led to a sharp, though temporary, deterioration in global financial conditions earlier this year had not been fully resolved," the minutes read.

However, some other participants indicated a rate hike might well be warranted if the incoming economic data showed the recovery proceeding at a healthy pace.

Since this meeting, Labor Department data has confirmed robust jobs growth and improving labor market participation in March.

The Fed's next policy meeting is April 26-27.