The Presidential Daily Brief

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  1. Fed Exercises Caution Over Increasing Rates

    Sometime soon, the Federal Reserve will halt its policy of quantitative easing, but remains vague about when its benchmark interest rate — which has stayed near zero since December 2008 — will begin to climb. Experts suggest that the rate will begin to stir in 2015, hitting a 3.75 percent target by late 2017. Janet Yellen’s positive economic report should rejuvenate the five-year-old bull market; the Dow finished at a record yesterday and the dollar jumped to a six-year high against the yen.

    NYT, WSJ, FT

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