Global Economic Slowdown Not Affecting America? Fed Says: Prove It

The U.S. Federal Reserve thought the economy was close to warranting an interest rate hike in September. But policymakers wanted firmer evidence a global economic slowdown was not knocking America off course. The minutes from the Sept. 16-17th meeting--released on Thursday--pointed to a deeply cautious Fed. That was even before subsequent economic data showed a sharp slowdown in hiring by U.S. employers. According to the minutes, "most" policymakers thought the Fed's first rate hike in a decade should still come this year. They also felt that financial market turmoil had not "materially altered" the outlook for the U.S. economy. http://feeds.reuters.com/~r/reuters/topNews/~3/GZXjuG6Wkcc/story01.htm http://www.wochit.com This video was produced by Wochit using http://wochit.com