Upward revisions to third-quarter numbers for business investment and government spending show that the U.S. economy grew even faster than originally estimated. Gross domestic product (GDP) rose at an upwardly revised 5.2 percent annualized pace in the third quarter, the fastest in nearly two years. Consumer spending advanced at a less-robust 3.6 percent rate, according to the government's second estimate of the figures issued today.

The central bank plans to move carefully, addressing both the risk of being misled by a few good months of data and the risk of overtightening.

Once a leader in the shift from defined-benefit plans to defined-contribution plans, the tech giant is now switching employees to retirement benefit accounts.

The core CPI, which excludes food and energy costs, rose just 0.2% from September to October.