Fed minutes reveal members wary of 'downside risks' to US economy

Outlook more 'uncertain' in January meeting

Minutes from the Federal Open Market Committee's January meeting reveal a more dovish tone as members agreed "uncertainty had increased", putting doubts over the likelihood of a further rate hike in March.

Policymakers considered changing course on their plan to raise rates throughout 2016, reported the BBC, as minutes released last night showed some members felt that the tighter US economic conditions were "roughly equivalent" to further interest rate increases. Although members were wary of making quick judgements on the market turbulence seen year to date, they agreed the outlook for economic growth and inflation had become "uncertain". Which path will Fed follow after tough start to 2016? The minutes said: "Members observed that if the recent tightening of global financial conditi...