October's Minutes Show Fed's Debate; Staples Boosts Profits By Closing 170 Stores
PUBLISHED ON: Nov 19, 2014
U.S. markets end the day slightly down. The minutes from October's Federal Reserve meeting were released this afternoon and showed much debate occurring over the timeline of raising interest rates. Some policy makers thought they should eliminate the pledge to keep interest rates low "for a considerable time", while others believed an announcement and move of that sort would negatively shake up the financial markets. To accelerate ongoing efforts to cut costs, office supplies retailer Staples (SPLS
) announced plans to close 30 stores in addition to the 140 that were already announced.
Wall Street enjoyed this news sending shares up 10%, since additional store closures will help with the bottom line.