Fed Minutes reveal caution on rates missing from statement

Minutes of the Federal Reserve’s December meeting revealed policymakers took a more cautious approach to further rate increases than their statement indicated.
“Many participants expressed the view that, especially in an environment of muted inflation pressures, the committee could afford to be patient about further policy firming,” the central bank said in minutes of its Dec. 18-19 policy meeting released Wednesday in Washington.
The vote to hike rates was unanimous but the mi