The Fed released its January monetary policy meeting minutes on Wednesday. The Fed kept its interest rate unchanged in January. Fed officials expressed concerns about global financial conditions and considered to change the number of interest rate hikes this year.
"Members observed that if the recent tightening of global financial conditions was sustained, it could be a factor amplifying downside risks," the minutes said.
According to the minutes, downside risks from low oil energy prices to the outlook are increased.
The Fed noted that it will closely monitor global economic and financial developments.
Some Fed officials expressed concerns that the slowdown in the Chinese economy would have a negative impact on the U.S. economy.