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Caroline Baum: Does the Fed finally realize forward guidance is folly?
Markets ignoring the Fed’s talk of September rate hike, and for good reason. In the last two weeks, three Federal Reserve officials have said or implied that the first rate increase could take place in September. The reaction? The September federal funds futures set a new contract high of 99.83, an implied yield of 0.17%. Just imagine what
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Posted: June 29, 2015 Monday 04:49 PM