Daily News: January 8, 2015

FOMC: Rate Rise Unlikely Before Late April

Bloomberg reported, according to minutes of the last FOMC meeting, the Federal Reserve confirmed that being “patient” on interest rates means no increase before late April, while expressing concern that inflation might continue to linger below its goal.

Bloomberg notes the minutes indicate broad support for chair Janet Yellen’s assessment of the likely timing of the first interest-rate increase since 2006 that she delivered at a press conference following the meeting.

Bloomberg said officials also discussed risks from overseas, including a plunge in oil prices, and concluded they were largely offset by domestic strength.

To read the entire Bloomberg article, click here.