BBC News: Fed hints at future rate increase

In a statement accompanying its rates decision last month, the Fed left the door open for further rises to rein in inflation should it be needed.

"Several members judged that the subdued tone of some incoming indicators meant that the downside risks to economic growth in the near term had increased a little and become a bit more broadly based than previously thought," minutes of the meeting showed.

"Nonetheless, all members agreed that the risk that inflation would fail to moderate as desired remained the predominant concern."