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Fed drops 6.5% UE guidance; expects first rate hike next year

  • The Fed adds $10B to the taper and drops the 6.5% unemployment rate threshold for hiking the Fed Funds rate, replaced by a more qualitative approach.
  • Most Fed officials see the first rate rise next year and expect a Fed Funds rate of at least 1% by the end of 2015.
  • Full statement
Comments (1)
  • Philip Marlowe
    , contributor
    Comments (1134) | Send Message
     
    Notable is that the only person voting against the statement was the noted dove Kocherlakota. The hawks from Texas and Kansas kept mum.
    19 Mar 2014, 02:13 PM Reply Like
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