Rich Miller

The Fed chairwoman warned of the risks attached to waiting too long before raising rates.

The Fed is trying to change as little as possible as it crafts its strategy to exit from record stimulus. The trouble is financial markets have changed so much that the still-developing plan may prove costly and ultimately unworkable.

The budget deal struck by the White House and Senate Republican leaders, if it becomes law, probably would slow the U.S. economic recovery without stopping it.