Federal Reserve officials expressed renewed worries about inflation during their January meeting, according to minutes released Wednesday. The Federal Open Market Committee minutes revealed that several policymakers suggested interest rates may need to rise if inflation remains above the central bank's target.

The minutes from the Jan. 27-28 meeting showed a shift in tone from previous discussions, with officials becoming more cautious about the inflation outlook. While the Fed has maintained that current price pressures are transitory, the minutes indicated growing concern that inflation could prove more persistent than previously thought.

This development comes as inflation has remained elevated above the Fed's 2% target for an extended period. The minutes suggest that policymakers are preparing markets for the possibility of more aggressive action if price pressures don't moderate, potentially including faster tapering of asset purchases or earlier interest rate hikes.