Tuesday, 11 February 2014

Ahead of Janet Yellen's testimony on Tuesday...

...where are Federal Reserve guidance expectations?  Three charts of interest. 

Interest rate expectations for June 2015 are much lower today than even five months ago...

 ...which is just about consistent with the notion that the median exit time is still over a year away

Slowly, slowly though, the Fed bias is moving closer to zero.  Tapering may not be tightening...but it is taking away stimulus. 

It is going to be an interesting Tuesday for Federal Reserve watchers. 

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