Several members of the Federal Reserve’s policymaking committee said they would consider expanding efforts to stimulate the U.S. economy if threats to the recovery worsen, according to minutes of the panel’s April meeting.

Officials cited several factors, including tax increases and spending cuts set to take effect in January that could limit the economic recovery, according to records of their discussion released Wednesday…

Low interest rates may already be creating other problems, Fed officials said.

“A few participants indicated that they were seeing signs that very low interest rates might be inducing some investors to take on imprudent risks in the search for higher nominal returns,” the minutes said.