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Fed Decision Day Guide: From Rate Patience to Too-Low Inflation
Fed Chair Janet Yellen said in December that being “patient” meant the committee was unlikely to raise rates “for at least the next couple of meetings,” or not before late April. Data released today indicate consumers are growing more upbeat even as the global slowdown takes a toll on business spending. Consumer confidence in January rose to the highest level since August 2007 on improving job prospects, the Conference Board reported. Orders for business equipment unexpectedly fell in December for a fourth month, according to Commerce Department figures. Sounding Upbeat The FOMC’s assessment of the U.S. ... (full story)