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Fed Chief Yellen Seeks Interest-Rate Consensus

Wall Street Journal (09/15/14) Jon Hilsenrath

U.S. Federal Reserve chairman Janet Yellen is seeking consensus on interest rates and easy money policies, and rather than champion an extension of superlow interest rates, she appears willing to exit from the policy as officials indicate that the economy is on stronger ground. With the bond-buying program set to conclude at the end of October, officials are discussing when short-term interest rates should rise and how to signal the change. Many Fed officials expect interest rates to increase in mid-2015, but in July Yellen indicated that rates could rise sooner if the job market continues to improve faster than expected.