FOMC meeting minutes
- Official saw inflation pick up over next couple of years.
- Several said inflation risk could be to the downside
- Many saw sub 2% inflation for longer than expected.
- Many expected B/S to only modestly tighten policy
- Many Fed officials swa weak inflation due to idiosyncratic factors
- Some officials concerned by weak inflation, argue for patience
- Fed split on assessment if inflation expectations well anchored
