Details of the Federal Open Market Committee's April 27-28 meeting unveiled Wednesday revealed that a major part of the policy-setting panel voted to wait to initiate with selling some of the $1.75 trillion in securities cache it accumulated over the past year.

In addition, the recent data hint to witness the already extended period to further extend during which the FOMC has posted that it speculates to aim for short-term interest rates "exceptionally low."

Some FOMC members and Fed watchers had posted that the asset sales are to result in a rise in the FOMC's rate targets. However, the minutes reflected that most of the panel voted in favor of hikes first.

"Such an approach would postpone any asset sales until the economic recovery was well established and would maintain short-term interest rates as the Committee's key monetary policy tool," as per the FOMC minutes.

Also, the minutes revealed that the panel showed its preference towards going slowly in selling off the agency debt and mortgage-backed securities portion of its portfolio, which included a major share of the Fed's purchases.

The consumer price index unexpectedly slipped 0.1% in April, putting its year-on-year gain at 2.2%. The biggest part of the rise in the CPI witnessed over the past 12 months was triggered by the energy prices, which are recorded to be up 17%.