As Janet Yellen seeks to forge a consensus on a new strategy for communicating the Federal Reserve’s intention to keep rates low, she can reach for a six- year-old tool: the Fed’s quarterly forecasts.
A number of Federal Reserve officials said the central bank may need to expand its monthly purchases of bonds next year after the expiration of Operation Twist, according to minutes of their last meeting.
Service providers from construction companies to retailers expanded in May at the fastest pace in nine months, signaling a broad-based rebound in the U.S. economy after a dismal first quarter.
"The economy is faring quite well."
- Millan Mulraine on Oct 23, 2014
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