Only then, he said, can policy makers make informed decisions.
Danish policy makers made huge investments in renewable energy and subsidized environmental innovation.
I stressed the "unintended consequences, such as malinvestment throughout the world, and canceling price signals to policy makers," made possible by Fed actions.
In a statement, the 10 policy makers made inflation more of a concern than economic weakness, the first time they had done so in months.
"By gathering data from 25 patent assertion entities and 15 operating companies, we believe the F.T.C. analysis would help policy makers make decisions on patent reform based on business behaviors not business models," said Russ Merbeth, its chief policy counsel.
Whatever the timing of the taper, Fed policy makers made it clear in the minutes that the short-term rates set by the Fed would remain close to zero for considerably longer.
"That's one of the biggest steps that I have seen Indian policy makers make in the last decade," said Mr. Bhalla, who heads Oxus Investment, a research and investment firm in New Delhi.
Fed policy makers made a surprise cut of half a percentage point in short-term interest rates on March 18 and are expected to cut again when they meet on May 15.
Fed policy makers made it clear they were willing to reduce interest rates in order to prevent a serious downturn, even if inflation was slightly higher than they wanted, according to the minutes.
Fed policy makers make their decisions about interest rates behind closed doors, then communicate those decisions primarily through brief, cryptic statements that analysts busily decode in the days that follow.
