Fed Minutes: FOMC Policymakers Debated An April Interest Rate Hike At Last Policy Meeting

Federal Reserve policymakers debated last month whether an interest rate hike would be needed in April, though a consensus emerged that risks from a global economic slowdown warranted a cautious approach.

"Many participants expressed a view that the global economic and financial situation still posed appreciable downside risks," according to the minutes from the Fed's March 15-16 policy meeting released Wednesday.