Fed: Economic Recovery Improving

Finally, a cheery economic forecast. On Wednesday, officials from the Federal Reserve upgraded their assessment of the economic recovery, saying that while unemployment is "elevated," the "labor market conditions have shown further improvement in recent months." Short-term interest rates are expected to stay low until 2015, and inflation forecasts have been shaded down. But there is no indication yet as to when the central bank will start resigning its monthly $85 billion bond-buying program, but the positive economic forecast means it might be reduced in the coming months.