Fed meeting notes slightly higher inflation, increased uncertainty about economic outlook

Fed meeting notes indicate that inflation remains slightly higher for now. Participants indicated that uncertainty surrounding the economic outlook has increased and that the Committee will carefully evaluate follow-up data, the evolving outlook, and the balance of risks as it considers the magnitude and timing of further adjustments to the target range for the federal funds rate. The Committee will work to support full employment and return inflation to its 2 percent objective. In assessing the appropriate stance for monetary policy, the Committee will continue to monitor the impact of future information on the economic outlook. They will be prepared to adjust the stance of monetary policy as appropriate if risks arise that could impede the achievement of the Committee's objectives. The Committee's assessment will consider multiple factors including labor market conditions, inflationary pressures and inflation expectations, and developments in financial and international conditions.