Financial markets that are pricing in three 2010 rate hikes by the Fed are getting a bit ahead...

|By:, SA News Editor

Financial markets that are pricing in three 2010 rate hikes by the Fed are getting a bit ahead of reality, says Pimco's Richard Clarida, who expects no movement until late 2010 or 2011. “The Fed has never hiked until they have seen a sustained decline in unemployment ... By the Fed’s own forecast, that is at least one year away.”