We study fractional differential equations of Riemann-Liouville and Caputo type in Hilbert spaces. Using exponentially weighted spaces of functions defined on $mathbb{R}$, we define fractional operators by means of a functional calculus using the Fourier transform. Main tools are extrapolation- and interpolation spaces. Main results are the existence and uniqueness of solutions and the causality of solution operators for non-linear fractional differential equations.