Markets Continue to Test the Fed’s “Patience”: Why We Think It’s Time to Hedge
March 20, 2015 at 11:00 AM EDT
On March 18, 2015, the Federal Open Market Committee (FOMC) completed one of its final prerequisites for making its first upward change in monetary policy in almost nine years. While economists generally agreed that the word “patience” would be dropped from the statement, interest rate futures...