U.S. ECONOMICS: San Francisco Fed Report Sees No Rate Hike Until 2015


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The latest research paper from the San Francisco Fed shows it expects the Fed will maintain its expansive monetary policy until at least mid-2015.

According to the report, which is published in the latest Economic Letter from the San Francisco Fed, economists estimate that the current "forward guidance has...contributed to lower interest rates, easing financial conditions and adding stimulus to the economy" and that the first Fed funds rate hike will occur "sometime in 2015."

The Fed last adjusted the Fed funds rate in December 2008, lowering it from a target rate of 0.7%/1.00% to 0.00%/0.25%.

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