A range of forces—including political blowback, whiffs of inflation, stirrings of fiscal stimulus and worries that the policies themselves may backfire—are pressing central-bank chiefs to push short-term interest rates no lower.
Americans say they’re feeling more upbeat about the economy. Retailers will be forgiven if they don’t quite believe that. Retail sales rose 0.6% in December, a result that fell slightly short of economists’ forecasts.
The election of Donald Trump has economic forecasters thinking hard about something that hasn’t been a problem for a while: upside risks. In a Journal survey, 64% of respondents said the risk was to the upside, the highest in over two years.