Federal Reserve meeting minutes: Downside risks to employment have increased in recent months.

The minutes of the Federal Reserve meeting noted that, in discussing the monetary policy decision, the members unanimously agreed that existing indicators showed economic activity was expanding at a moderate pace. They also unanimously agreed that job growth had slowed this year and the unemployment rate had risen slightly through September. The members noted that recent indicators were consistent with these trends. They observed that inflation had risen since the beginning of the year and remained at a high level. They unanimously agreed that the Committee was closely monitoring the risks on both sides of its dual mandate, and that downside risks to employment had increased in recent months.