Fed 'Trump policy' uncertainty concerns..."Slowly cut interest rates".

At last month's U.S. rate-setting meeting, Fed members expressed concern about the uncertainty Trump's second-term administration policy would have on the economy and expressed the need to slow the pace of the key rate cut further.

Minutes from December's Federal Open Market Committee meeting, released on the 8th local time, showed that almost all members of the committee had determined that the upward risk of inflation had increased.

On the basis of this judgment, they agreed that the pace of rate cuts needs to be adjusted, citing stronger-than-expected inflation indicators and the impact of potential changes in trade and immigration policies.

Discussing the outlook for monetary policy in this regard, the minutes said the lawmakers in attendance indicated that they had reached or were close to the right time to slow the pace of monetary easing.

The minutes also said that the participating members agreed that the benchmark interest rate was significantly closer to neutral than when it began easing monetary policy in September last year.

At the same time, Fed members pointed to inflation above the Fed's target level, robust consumer spending and a stable labor market as factors that made monetary policy decisions necessary to take a cautious approach.