Dec 19 2014

Rate Range Projection by Bank 

Next week 118.00- 121.00

Next 3 months 115.00 – 125.00

 

Jeffery Lacker the president of Federal Reserve Bank of Richmond said it would be patient on raising ineterest rate. After taking part in a panel discussion in Charlotte, North California he said that “i supports the characterization and it could change from meeting to meeting for me”. He also told panel “I think it is highly likely rates will go up next year, not a certainty but a likelihood,” He was a voter, in favor of a less accommodative policy stance dissented at every FOMC meeting in 2012,He will vote on monetary policy in 2015, he told reporters-“At this meeting. I didn’t think we were there yet. I would like to see a little more data first” before increasing rates.

Chair Janet Yellen told reporters he would probably not increase rates until at least past the first quarter.It will be patient on the timing of the first interest-rate increase since 2006, replacing a pledge to keep borrowing costs near zero for a “considerable time.”The Federal Open Market Committee said this week that