Eagle statue perched upon the Federal Reserve building in Washington, D.C.
Eagle statue perched upon the Federal Reserve building in Washington, D.C. - 
Listen To The Story
Marketplace

TEXT OF STORY

Scott Jagow: Investors are waiting for some important information from the Federal Reserve today. The Fed releases the minutes of last month's meeting, and there'll be a lot more details about the economy as well. Nancy Marshall Genzer reports.


Nancy Marshall Genzer: The Fed will be serving up an early Thanksgiving feast today, heaping our plates with predictions for inflation, economic growth and unemployment for the next three years.

Until today, projections only looked ahead two years. Also, the Fed will start reading the economic tea leaves four times a year instead of twice.

Oberlin College economics professor Kenneth Kuttner says Fed critics are hungry for even more information, but this is a good start.

Kenneth Kuttner: It's not throwing the windows open wide. But it's just cracking them open a bit more.

The Fed is also giving us a better peek at inflation, for the first time factoring in volatile food and energy costs. That's a good thing, says Former Fed Governor Lyle Gramley.

Lyle Gramley: I think consumers were confused before because the Fed seemed to be saying, "We don't realize that people eat and drive automobiles."

This feast of information should help us plan everything from when to buy a house to how many people we invite to Thanksgiving dinner.

In Washington, I'm Nancy Marshall Genzer for Marketplace.

“I think the best compliment I can give is not to say how much your programs have taught me (a ton), but how much Marketplace has motivated me to go out and teach myself.” – Michael in Arlington, VA

As a nonprofit news organization, what matters to us is the same thing that matters to you: being a source for trustworthy, independent news that makes people smarter about business and the economy. So if Marketplace has helped you understand the economy better, make more informed financial decisions or just encouraged you to think differently, we’re asking you to give a little something back.

Become a Marketplace Investor today – in whatever amount is right for you – and keep public service journalism strong. We’re grateful for your support.