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The Fed says it can be ‘patient’ on Rate Hikes; Stock Market Jumps
WASHINGTON (MarketWatch) — The Federal Reserve on Wednesday dropped the pledge to keep rates close to zero for a “considerable time” and replaced it with new language that the U.S. central bank “can be patient in beginning” to tighten monetary policy.
The language change signals that the central bank is prepared to raise short-term interest rates in the middle of 2015.
The Fed finessed the statement a bit, saying that the “patient” language was “consistent” with its prior considerable time pledge.
Investors appeared to liked the statement, with the S&P 500 index SPX, +1.12% extending gains.
http://www.marketwatch.com/story/fe...ent-on-rate-hikes-2014-12-17?siteid=rss&rss=1
WASHINGTON (MarketWatch) — The Federal Reserve on Wednesday dropped the pledge to keep rates close to zero for a “considerable time” and replaced it with new language that the U.S. central bank “can be patient in beginning” to tighten monetary policy.
The language change signals that the central bank is prepared to raise short-term interest rates in the middle of 2015.
The Fed finessed the statement a bit, saying that the “patient” language was “consistent” with its prior considerable time pledge.
Investors appeared to liked the statement, with the S&P 500 index SPX, +1.12% extending gains.
http://www.marketwatch.com/story/fe...ent-on-rate-hikes-2014-12-17?siteid=rss&rss=1
