Federal Reserve Expresses Confidence in US Recovery

U.S. central bankers have looked beyond a global deflation threat, fear of energy-sector bond defaults and a surge of oil patch layoffs to reach what appears to be a firm conclusion: The U.S. recovery is here to stay. New trade data released Wednesday and signs of ever-stronger consumer spending confirmed that the United States remains the bright spot in a global economy plagued by uncertainty. The trade deficit shrank in November to less than $40 billion, providing a boost to growth...

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