Officials Expressed Less Certainty About 'Timing and Size' of Future Rate Increases

Market Volatility, Global Growth Concerns Create Policy Uncertainty, Officials Said

December Increase Brought Rates Near Lower Estimates of Neutral

Many Officials Said Muted Inflation Allows Fed To Be Patient on Future Rate Increases

Neither Pace nor Ultimate Endpoint of Future Rate Increases Was Known, Officials Said

Officials Generally Judged Some Further Increases Likely Appropriate

Officials Stressed Data-Dependent Policy Going Forward