Fed minutes show policymakers see immigration, tariff shifts creating inflation uncertainty

The Federal Reserve's policymaking arm on Wednesday released the minutes of its most recent meeting in which central bank officials noted that the uncertainty surrounding how President-elect Trump's policies will be implemented is weighing on their outlook for inflation.

The Federal Open Market Committee (FOMC) is tasked with making decisions about monetary policy and consists of a rotating group of regional Federal Reserve Bank presidents who set the central bank's target range for the benchmark federal funds rate.