What if the Federal Reserve declared its intention to raise interest rates, but no one believed it? Fed Chairwoman Janet Yellen came close to such a declaration on Friday, saying at the Jackson Hole summit in Wyoming that “the case for an increase in the federal-funds rate has strengthened in recent months.” This language is about as strong as a central banker could be to warn of a coming move. But the market reaction was mild...

Source: Wall Street Journal August 26, 2016 15:33 UTC