The Federal Reserve removed the word “patient” from its new policy statement yesterday, signaling that the central bank is inching closer to raising interest rates. But in an attempt to walk a thin line with managing expectations, Fed Chairwoman Yellen advised that “just because we removed the word ‘patient’ from the statement doesn’t mean we are going to be impatient.” The comment certainly resonates when considered with the Fed’s updated economic forecasts, which trimmed the 2015 projection for growth to a 2.3%-to-2.7% range for real GDP vs. the 2.6%-to-3.0% range cited for the December meeting.
Continue reading →

● Fed Drops Patient Stance, Opening Door to June Rate Increase | Bloomberg
● Fed opens door wider for rate hike but downgrades economic outlook | Reuters
● The Fed sounds slightly worried about the strong US dollar | Quartz
● Oil futures give up gains as oversupply fears resurface | MarketWatch
● Japan’s All Industries Activity Index 1.9% vs. 1.7% forecast | Investing.com
● Wage growth slows in Britain but unemployment falls | Guardian