Business ​Fed opens door to interest rate hike – a tribute to healing economy (+video)

Employers have been hiring at a faster clip. The official unemployment rate has fallen from 10 percent of the labor force five years ago to 5.8 percent today. Households have lightened their debt loads. And now a plunge in oil prices is acting like a holiday gift for consumers.

By , Staff writer

Kevin Lamarque/Reuters

The Federal Reserve has shifted its policy tone, replacing prior pledges to wait a “considerable time” before raising interest rates with language that simply promises to be “patient.”