Federal Reserve officials are considering whether to alter their guidance on the likely path of interest rates to give them more flexibility to react to changes in the economy. The Fed has said since March that its benchmark rate would stay low for a “considerable time” after it completes monthly bond buying intended to boost growth. With purchases set to end late this year and the Fed nearing its full-employment goal, that assurance will soon become obsolete. The need for new guidance unites policy makers who want to keep rates low for longer, like Boston Fed President Eric Rosengren, with those who prefer to raise ... (full story)