Fed minutes show concern at ultra-low rates

Some FOMC members expressed concern at their March meeting that a long period of ultra-low short-term interest rates might lead to increased speculation in financial markets, according to Federal Reserve minutes released on Thursday 6 May.

Policy-makers at the March meeting discussed the pros and cons of leaving rates unchanged.

"Some members were concerned that keeping monetary policy stimulative for so long might be encouraging increased leverage and excessive risk-taking,'' the minutes said