Stanley Fischer, said to be the leading candidate for the No. 2 job at the Federal Reserve, offers crisis-fighting experience and a dose of skepticism about efforts to shape expectations on the outlook for interest rates.
A gauge of U.S. company credit risk declined from the highest level in three weeks as Federal Reserve officials advocated persistent economic stimulus. A unit of Alcatel-Lucent SA plans to issue $750 million in notes.
Linking the Federal Reserve’s zero interest rate policy to economic data, rather than a calendar date, prompts investors to adjust their expectations for policy to changes in the economy, according to a Federal Reserve Bank of New York study.