The biggest shocker in today's Fed announcement is not that the Fed did
not hike: that was telegraphed far away. It is highlighted on the chart
below in red: for the first time ever, one FOMC predicts negative rates in 2015 and 2016. And now, it is not Kocherlakota: he is out next year.
So: instead of QE4 - forget hikes - is the Fed going to shock us with NIRP in the coming months? Can't wait to take out a 0% interest mortgage loan lol...

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