Minutes show Fed wanted increased flexibility

The FOMC was unanimous at their January meeting that they should ditch a pledge to keep interest rates low for "a considerable period" in favour of wording that would increase their flexibility, minutes showed Thursday.

The Federal Open Market Committee, the group of Fed board members and regional Fed bank presidents who set interest rates in the US, split, however, on what should replace the ''considerable period" language.

The Fed had used that phrase since last August to reassure financial m

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