The minutes recorded the views of policymakers expressed at a March 14 - 15 meeting, when they voted to raise their benchmark interest rates to head off mounting inflation.
The Fed, chaired by Janet Yellen, bought Treasury and mortgage-backed bonds on a hitherto unprecedented scale in the wake of the financial crisis to help to keep interest rates low and to encourage job creation and economic growth.
The Fed used both the federal funds rate and securities purchases to drive down interest rates across the board about a decade ago, but needs to boost those rates once more now that the unemployment rate has remained below 5 percent for almost a year and inflation has hit the Fed's target level of 2 percent, meaning the economy is humming right along.
"The December FOMC meeting is probably the most likely date to introduce this change", said Paul Ashworth, chief US economist at Capital Economics in Toronto, following the publication of the minutes.
The most recent projections from the Federal Open Market Committee, which sets the Fed's benchmark rates, were for a total of three rate hikes in 2017.
"The FOMC minutes were clear that officials are contemplating beginning to address the balance sheet", said Win Thin, an economist at Brown Brothers Harriman.
The minutes said one approach for reducing the holdings that was discussed would be to suspend the reinvestment of at least some of the holdings of Treasury bonds and mortgage-backed securities as they mature.
Minutes of the Fed's March policy meeting, released Wednesday, contained details of the central bank's first intensive discussion of how to unwind its massive balance sheet.
Most economists believe the USA economy is strong enough to sustain gradual increases in the interest rate, and that the Fed should now shift its focus to restraining emerging inflation.
As the newly-released minutes indicated, the Fed could very soon begin selling those assets off, triggering a speedier rise in general interest rates, and, as a result of the rise in the cost of borrowing, a potential market panic and fears of economic slowdown.
The minutes said that because of the "substantial uncertainties" about the outlines of the program that might eventually emerge from Congress, about half the Fed officials had included no assumptions about Trump's efforts in their economic forecasts.
On inflation, the minutes showed that some Fed officials anxious that if unemployment, now at a low of 4.7 percent, fell even further, it could pose a "significant upside risk" of higher inflation.
"Several participants now anticipated that meaningful fiscal stimulus would likely not begin until 2018, " the minutes read. The Fed's dual mandates are to achieve maximum employment and moderate inflation.
In its March policy statement, the Fed said that its inflation target was "symmetric", indicating it could tolerate price rises temporarily overshooting its 2 percent target rate. Unemployment is already below the Fed's 4.8 per cent goal, while inflation has remained below its 2 per cent inflation goal for several years.
As of Tuesday evening, 20 companies had pulled their ads from the Fox primetime cable program, according to a report by CNN . The NOW also asked for an independent investigation into the "culture of sexual harassment" at Fox News .
A controversial compromise bill that replaces HB2 has passed the North Carolina General Assembly and has been signed by Gov. The director of the ACLU LGBT Project, James Esseks, said lawmakers "should be ashamed of this backroom deal ".
India is now Malaysia's tenth-largest trading partner, seventh-largest export destination and 12th-largest source of imports. Indian firms have moved to Malaysia in a big way, making it a base to do business with other Asean countries.
Last year, Trump told a pro-Israel lobby group that his "No. 1 priority" would be to "dismantle the disastrous deal with Iran ". Trump has also spoken often about the importance of keeping jobs in the US , which this deal would do, according to Boeing .
They had a wonderful Broken gimmick going on, but due to recent legal claims from Impact Wrestling that might have changed things. He spent a few more years with the WWE , having a great Intercontinental Championship run, but he once again left in 2009.
That sets the stage for an intensified pace of combat there, while increasing the risk that American forces could kill civilians. One of its worst attacks happened in 2010 when it bombed two World Cup viewing parties in Uganda , killing 74 people.
The 18-year vet was survived by his wife, two daughters, brother and sister, according to the Officer Down Memorial Page . Last September, 15 years after the attacks, Caitlin Nelson posted a picture on Facebook of herself with her father.
After shying away from the spotlight, Jennifer Lopez and Alex Rodriguez are ready to take their relationship very public. Lopez has two children from her marriage to singer Marc Anthony, 9-year-old twins, Max and Emme .
According to oddsmakers from online sports book Bovada.lv, the Yankees and Rays both have equal odds of -105 to win today's game. Giants: RHP Johnny Cueto starts Tuesday after an outstanding first season with the Giants, when he went 18-5 with a 2.79 ERA.
Sindhu, however, had a two points lead, 11-9, going into the break, and the match was set to be a thriller. She gained an 8-6 lead with the help of six consecutive points and the momentum swung in favour of her.
A flip back to snow from the wintry mix is possible even in the valley/Hartford area - this is one thing we'll watch closely. This storm is looking more and more like a slushy/icy mix for areas north of I-84 and a mainly rain event south of there.
Ralph Lauren to close down N.Y. Fifth Ave. store
It will also move to a more cost-effective e-commerce platform through a new collaboration with Salesforce's (CRM) Commerce Cloud. In an effort to cut costs, Ralph Lauren is closing its flagship Polo store on Fifth Avenue in NY .
Norwich police to launch distracted driving campaign
Meanwhile, the Texas Department of Transportation says that previous year the number of distracted driving crashes increased. Gray said Greenwich Police could could give out endless tickets for texting and driving and never do any other police work.
Mike Epps sorry for dancing with kangaroo on Detroit stage
The kangaroo was repeatedly picked up during the show and led around on a leash, which is what has animal rights activists upset. In one clip, the kangaroo appears to whack Epps in the face, prompting the comedian to dart off stage.
Syndergaard, Cabrera lead Mets past Braves 6-0 in opener
The Mets have now improved to a Major League best 36-20 on Opening Day and have gone 21-3 in their last 24 Opening Days at home. Freddie Freeman had three hits for the Braves, who stranded runners at third in the fourth, sixth and ninth innings.
We Happy Few is getting the movie treatment
But while We Happy Few hasn't yet been completed, its developers have already struck a deal for a movie adaptation of the game. It sounds like early days for the We Happy Few movie, as the producers are now looking for writers for the script.
Derrick Rose out for Knicks season with torn meniscus in knee
On Sunday, The Vertical's Adrian Wojnarowski reported that Rose will miss the rest of the 2016-17 season with a torn meniscus. Last season saw Rose play in 66 games, his most since 2010-11, but a fractured orbital bone sidelined him for 16 games.
Strong Storms Possible Late-Day Monday
Google's map can alert you to any weather-related warnings or watches in your area, as well as display public shelter locations. The storms impacting this region are expected to move in our direction tonight, however, there will be some weakening over time.
South Korea allows soccer team to compete in North Korea
Security Council, mainly in opposition of western sanctions on Syria's government for the alleged use of chemical weapons. But analysts agree that North Korea is determined to make progress on its nuclear and missile programs.
NORC Poll: Majority of Americans favor Russia probe
Almost 20 percent of those who disapprove of Trump's overall performance still approve of how he's handling the economy. But with Trump in the White House, Milton is so disappointed that she said she would take former President George W.