Federal Reserve members upheld the current monetary policy that the risk of raising interest rates early outweighs the risk of raising them too late, members of the Federal Open Market Committee said in minutes released from the April 28 monetary policy meeting.

While voting to maintain the federal funds rate in a range between zero and 0.25%, most members agreed to reiterate language that economic conditions were likely to warrant “exceptionally low levels of the federal funds rate for an extended period,” according to the minutes released yesterday by the Fed.

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