Good news if you love the fixed deposit

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An honorable member of the Coffee Shop Has Just Posted the Following:

Yellen's said in her first FOMC press conference:

“So the language that we used in the statement is considerable period. So I, you know, this is the kind of term it’s hard to define. But, you know, probably means something on the order of around six months, that type of thing.”

The Fed said explicitly for the first time that it likely would keep short-term rates lower than normal, even after inflation and employment return to their longer-run trends. Its latest projections, also released Wednesday, showed officials coalescing around a 2015 lift off for interest rates.

Ten of 16 Fed officials said they saw the Fed's benchmark interest rate rising to 1% or more by the end of 2015, a slight uptick in projections from December, when only seven officials saw rates at or above the 1% level. Twelve of 16 officials expected the rate to be at or above 2% by the end of 2016. In December, eight officials saw rates at or above 2% by the end of 2016.


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