Fed officials 'highly attentive' to inflation despite recent progress

Outlook is 'uncertain'

Officials from the Federal Reserve are “highly attentive” to the risk of inflation, and noted the economic outlook is “uncertain”, according to minutes from the Federal Open Market Committee meeting last month.

The committee acknowledged inflation had eased over the past year, with the CPI annual rate falling to 3.1% in January but remaining above its 2% target.  Officials remained "concerned" that higher inflation continues to harm households, especially those with "limited means". The Fed highlighted that the progress in driving down inflation reflected "idiosyncratic movements in a few series". Jerome Powell: Fed united in cutting rates this year Committee members noted they would need "greater confidence" that inflation was moving towards target to cut rates. The minutes confirm...