Don't be surprised if the Fed hikes rates before late 2014, writes Anthony Doyle, as the pledge...

|By:, SA News Editor

Don't be surprised if the Fed hikes rates before late 2014, writes Anthony Doyle, as the pledge not to hike is based on its forecasts for the economy. Trouble is, the Fed - along with other central banks - is a horrid economic forecaster. If the economy improves, inflation expectations rise, and the Fed doesn't hike, then we can be sure the goals of monetary policy have changed.