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Yellen Still Waiting for Overwhelming Evidence to Warrant Hike
For Federal Reserve officials, getting better never seems to rise to good enough. Since the policy-setting Federal Open Market Committee last gathered six weeks ago, economic reports have shown one example of U.S. resilience after another following a slow first quarter. When the monetary policy panel meets on Tuesday and Wednesday, a majority of investors expect them to do what they have done at every meeting this year: nothing. Indicators such as the June employment report, retail sales, housing starts, capacity utilization, and a gauge of service industries have all beat economists’ expectations. Still, 2016 has ... (full story)