Yellen’s Patience Echoes Greenspan 2004 Run-Up to Rate Liftoff
This article is for subscribers only.
Federal Reserve Chair Janet Yellen is taking a page from predecessor Alan Greenspan’s 2004 playbook, a step that appears to validate the expectations of investors who expect interest-rate liftoff in June 2015.
The Fed yesterday replaced a vow to hold rates low for a “considerable time” with a commitment to be patient on the timing of any increase.