Fed Minutes Show Anxiety Over Global Risks

(RTTNews) - Downside risks to economic growth prevented the Federal Reserve from raising interest rates in September, the minutes from the central bank's meeting confirmed Friday.

Most officials decided it would be "prudent" to wait for signs that problems overseas, especially in China, would dissapate.

The Fed voted 9 to 1 to hold rates steady.

Members were also concerned about anemic inflation, which remains well below the Fed's 2 percent annual target rate.

The Fed said it will consider raising interest rates before year's end, as policy makers "agreed that developments over the inter-meeting period had not materially altered the committee's economic outlook."

However, the meeting took place September 16-17, a few weeks before the release of a disappointing jobs report.