The economy grew 3.4 percent in the third quarter, the fastest pace in a year. Strong spending and growth contrast with the poor marks many voters are giving the economy.
The Personal Consumption Expenditures index picked up in September, according to data released a day after the Federal Reserve’s decision to hold interest rates steady.
Her plan to depart in February, months before the end of an eight-year term, sets in motion a selection process among European leaders for a new central bank president.
Christine Lagarde’s appointment as the European Central Bank’s first woman president was the latest step in a career of breaking gender barriers, while also contending with economic crises.
Kevin M. Warsh, the chairman of the Federal Reserve, said an “information-rich” period before the central bank’s gathering in December will help officials determine next steps for policy.
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