NEW YORK (CNNMoney.com) -- Bonds fell for the fourth straight session Wednesday after minutes from the Federal Reserve's last meeting showed policy-makers were still concerned about inflation.

The dollar edged higher against the euro and held steady versus the yen.

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The 10-year Treasury note lost 6/32, or $1.88 on a $1,000 note, to yield 4.78 percent, up from 4.76 percent late Tuesday.

The 30-year bond tumbled 11/32, or $3.44 on a $1,000 bond, to yield 4.91 percent, up from 4.89 percent the previous session. Bond prices and yields move in opposite directions.

The five-year note fell 4/32, yielding 4.75 percent, while the two-year note slipped one tick to yield 4.86 percent.

Bond prices came under pressure after the minutes from the Fed's Sept. 20 meeting showed policy-makers still voicing worries about the pace of inflation.

A small plane that crashed into an apartment building on Manhattan's Upper East Side also failed to spark flight-to-safety buying of Treasury bonds.

Central bankers left the target for a key short-term interest rate steady at 5.25 percent for the second straight time at their last meeting, but several policymakers were worried inflation expectations could rise.

"Recent rates of core inflation, if they persisted, were seen as higher than consistent with price stability, and participants underscored the importance of ensuring a moderation in inflation," the minutes said.

Bond traders loathe inflation since it erodes the value of their fixed-interest-paying investments.

Since Fed officials began making more hawkish comments about inflation earlier this week, traders have been lowering their bets that the Fed will cut rates before the end of the year or into 2007.

On Wednesday, Richmond Fed President Jeffrey Lacker, the only member of the Fed's interest-rate-setting committee to vote in favor of a rate hike at the last meeting, also warned about inflation.

He told reporters after a speech in Washington that he wanted solid proof that inflation is easing before he becomes more comfortable with the inflation outlook, Reuters reported.

Federal Reserve Governor Susan Bies also spoke Wednesday, but she avoided making any mention of U.S. monetary policy in her speech or to reporters.

In currency trading, the euro bought $1.2516, down from $1.2537 late Tuesday. The dollar bought ¥119.72, little changed from ¥119.73 the previous session.

-- from staff and wire reports

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