Do market prices imply a certainty the Fed cannot guarantee?

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

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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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