India, April 9 -- Due to high uncertainty about the net effect of an array of government policies on the economic outlook, the minutes of the Federal Reserve's latest monetary policy revealed officials believe it remains appropriate to take a "cautious approach" to future interest rate decisions.
The minutes also reiterated recent comments from Fed Chair Jerome Powell calling the central bank "well positioned" to wait for more clarity on the outlook for inflation and economic activity.
"A restrictive policy could be maintained for longer if inflation were to remain elevated, and policy could be eased if labor market conditions were to deteriorate or economic activity were to weaken," the minutes said.
The Fed added, "Some participants ob...