St. Louis Federal Reserve President Alberto Musalem on Thursday raised the twin risks of rising inflation expectations and a labor market that weakens alongside rising prices, in remarks that highlighted the potentially difficult choices facing the U.

Participants at the U.S. central bank's January 28-29 meeting "generally pointed to the upside risks to the inflation outlook," rather than risks to job market, according to the minutes from the meeting,

Federal Reserve officials at a meeting last month pointed to rising risks that inflation could worsen, a key reason they kept their benchmark interest rate unchanged. According to minutes of the Jan.