The committee said although production of CO2 is down 20% in the past two decades, the overall trend is up 10% because the cuts in production emissions have been outweighed by CO2 in the form of imported goods.
The central bank said "labor market conditions have deteriorated, and the available data indicate that consumer spending, business investment and industrial production have declined" since its policy-setting Federal Open Market Committee last met.
Most recently in June, the House Oversight Committee released an in-depth report, detailing a dramatic drop in the production of generic injectable drugs.