Fed Officials Stress Data Over Dates as Rate Rise Case Builds

Federal Reserve officials are signaling more confidence in the economy that moves them nearer to raising interest rates, and are stressing the liftoff is linked to data rather than dates to avoid unsettling markets.

Fed Vice Chairman Stanley Fischer said yesterday the central bank was getting closer to replacing a vow to hold rates low for a “considerable time” with guidance that tighter monetary policy will hinge on the economy’s performance.