FOMC members upbeat on economic outlook

Federal Reserve officials at their January meeting shrugged off past concerns and said the outlook for growth and inflation was looking positive, according to minutes of the meeting released Wednesday 21 February.

The minutes of the Jan. 30-31 meeting said that FOMC members saw "a more favorable outlook" for prices and growth than had been anticipated.

"Incoming data suggesting a leveling out in housing demand and strength in consumer spending outside the housing sector supported the view that

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