US Central Bank Keeps Rates Unchanged but Who Will Lead the Fed in 2018?

U.S. central bank officials will hold off on the third interest rate hike of the year. But the Federal Reserve says it will go ahead with plans to unload its massive portfolio of Treasuries and mortgage bonds. The decision to delay the rate hike and reduce (or normalize) the Fed’s $4.5 trillion balance sheet had been widely expected. The more pressing question is who will lead the central bank when Fed Chair Janet Yellen’s term ends next year. Mil Arcega has more