“The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on January 26-27, 2016. The minutes for each regularly scheduled meeting of the Committee ordinarily are made available three weeks after the day of the policy decision and subsequently are published in the Board’s Annual Report. The descriptions of economic and financial conditions contained in these minutes are based solely on the information that was available to the Committee at the time of the meeting. FOMC minutes can be viewed on the Board’s website.”

Minutes of the Federal Open Market Committee
January 26-27, 2016: HTML | PDF

“Staff Review of the Economic Situation – The information reviewed for the January 26-27 meeting indicated that labor market conditions continued to improve in the fourth quarter of last year even though growth in real gross domestic product (GDP) appeared to slow. Consumer price inflation was still running below the Committee’s longer-run objective of 2 percent, restrained in part by decreases in both energy prices and the prices of non-energy imports. Recent survey-based measures of longer-run inflation expectations were little changed, on balance, while market-based measures of inflation compensation declined further.”

• New York Times Fed Officials, at Meeting, Found Economic Outlook Cloudy