Do market prices imply a certainty the Fed cannot guarantee?

If anything is certain, it’s that we shouldn’t be.

Dean Curnutt

By Dean Curnutt

In its most recent communiqué to the markets, the Federal Open Market Committee said it expects to maintain a “highly accommodative stance” for monetary policy and that economic slack, along with well behaved inflation are likely to warrant exceptionally low interest rates through at least 2014.

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