Delayed Development

no change With manufacturing weak, services weakening, inflation non-existent, credit spreads widening, the long end of the yield curve not rising, and central banks in Europe, Japan and China all actively easing, the Fed will almost certainly not raise rates in March. The earliest they will boost the fed funds rate is June. It’s not that the fed doesn’t want to raise rates, it’s that the rest of the planet isn’t cooperating.

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