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Low Inflation Replaces Joblessness as Reason Fed Won’t Raise Rates

New York Times (11/20/14) Binyamin Appelbaum

Economic and job growth have been unusually steady and those trends are expected to continue, but U.S. Federal Reserve officials indicated that the slow pace of inflation may replace unemployment as the main reason for not raising interest rates, according to the minutes from the Fed’s October meeting. Policymakers indicated that financial conditions remain “highly accommodative,” and in post-meeting statements said that the central bank will keep interest rates near zero for a “considerable time,” with some suggesting that rates could rise in mid-2015.