Minutes released today of the Federal Reserve's interest rate meeting last month reveal that the US central bank's policymakers all expressed concerns about the dangers of inflation.
The minutes from the meeting of the Federal Open Market Committee (FOMC) show that members remained worried about the outlook for inflation and the potential hazards it could present to the economy.
The FOMC led by Fed chairman Ben Bernanke -- who told Congress last week that the Fed would respond with interest rate hikes if inflation charged higher for some reason -- decided unanimously to keep US interest rates steady at 5.25%.
The Fed's key rate has remained at 5.25%, since August 2006.
The minutes also raised concerns about the slump in the nation's housing market.
They also revealed, however, that 'better-than-expected economic news on economic activity and inflation suggested somewhat smaller downside risks to economic growth as well as improved prospects for core inflation.'
