Federal Reserve officials threw up their hands in January, deciding that they could not decide whether market turmoil would impede domestic economic growth ..... An official account, published on Wednesday after a standard three-week delay, makes clear that Fed officials simply did not know what to say .....
Yet in keeping with the Fed’s uncertain mood, the account also echoed recent comments by the Fed’s chairwoman, Janet L. Yellen, suggesting that investors had overreacted and could reverse themselves. “The large magnitude of changes in domestic financial market conditions was difficult to reconcile with incoming information on U.S. economic developments" ...
http://www.nytimes.com/2016/02/18/business/economy/fed-minutes-interest-rates.html?_r=0
