The Fed's Worrying Dovish Tilt

http://economics21.org/commentary/feds-worrying-dovish-tilt-03-17-2016

As expected, at the conclusion of its FOMC meeting, the Federal Reserve maintained its quarter percent to half percent interest rate target. But what is surprising is the move to a more dovish monetary policy. This was conveyed by the language in the Fed’s Policy Statement; the FOMC members’ updated forecasts; and the members’ assessment of a much more gradual path of rate increases to a lower long-run rate.