Fed likely to reiterate flexible policy on rates

(RECAP: In her first weeks as Federal Reserve chair, Janet Yellen has made one thing clear: The Fed will keep all options open in deciding when to raise interest rates from record lows. In a speech this month, Yellen said the Fed “must respond to significant unexpected twists and turns the economy may take.” On Wednesday, when it ends a policy meeting, the Fed will likely repeat that theme and echo a point it made after Yellen’s first meeting as chair last month: That even after the job market strengthens and the Fed starts raising rates, it will likely keep rates unusually low to support a still-subpar economy.)