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Limited success and high costs, however, suppressed interest in continuing developmental efforts.
Several retailers, including J. C. Penney, Kohl's, Stage Stores, Macy's and Stein Mart, blamed unusually warm weather for their results, saying it suppressed interest in cold-weather clothing.
In the past depositors put up with suppressed interest rates without "much of a fuss", says Charlene Chu of Fitch, a ratings agency, "because that's all they ever knew".
"It's a kind of double whammy - inflation on the one side, and artificially suppressed interest rates on the other," he says.
As the Fed suppressed interest rates for years through the purchase of long-term bonds (while at the same time keeping the short-end of the curve near zero through a low Fed Funds rate), investors flocked to international markets in search of higher returns on their money.
Similar(53)
The Fed already is engaged in a vast effort to stimulate the economy, using monetary policy to suppress interest rates.
One of the aims of central banks' efforts to suppress interest rates is to encourage more such spending.
In a speech earlier this month, he said that the Fed's efforts to suppress interest rates were producing clear benefits, increasing sales of homes and cars.
The Fed's stimulus campaign basically rests on persuading investors to bet their own money on the proposition that the Fed will continue to suppress interest rates.
Prices were rising (by 7.4% in the year to December) and yet the political pressure to suppress interest rates remained firm.
She indicated that the Fed's leadership, including the chairman, Ben S. Bernanke, remained firmly committed to the central bank's efforts to suppress interest rates and reduce the cost of borrowing for businesses and consumers.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com