FOMC Minutes, 14 December

Minutes from the Federal Reserve's 14 December FOMC meeting released on 4 January said that with the economic expansion more firmly entrenched, cost and price pressures were likely to become a clearer, intermediate-term risk to sustained good economic performance.

Some Fed policy-makers, at the December meeting, believed that the long period of an extraordinarily low funds rate "might be contributing to signs of potentially excessive risk-taking in financial markets."

They cited "a pickup in in

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