The Federal Reserve on Wednesday released minutes from its April 30-May 1 policy meeting.
Federal Reserve officials grew more concerned at their most recent meeting about inflation, with members indicating that they lacked the confidence to move forward on interest rate reductions.
"Participants assessed that maintaining the current target range for the federal funds rate at this meeting was supported by intermeeting data indicating continued solid economic growth," the minutes said. Committee members also expressed worry that consumers were resorting to riskier forms of financing to make ends meet as inflation pressures persist.
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