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Fed looks past a world in turmoil, confident in U.S. recovery
U.S. central bankers have looked beyond a global deflation threat, fear of energy-sector bond defaults, and a surge of oil patch layoffs to reach what appears to be a firm conclusion: the U.S. recovery is here to stay. New trade data released on Wednesday and signs of ever-stronger consumer spending confirmed the United States remains the bright spot in a global economy plagued by uncertainty. The trade deficit shrank in November to less than $40 billion (26 billion pounds), providing a boost to growth as Americans spent less on imported oil. Meanwhile, the first corporate reports from the Christmas season showed at ... (full story)
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