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This chart shows just how bad the Fed has been at predicting rate hikes

In January, Fed Vice Chair Stanley Fischer predicted that four rate hikes were "in the ballpark" for 2016. Of course here we are at the end of September, with only two Fed meetings remaining for the year, and the Fed has yet to hike rates even once. In its statement for its September meeting, the FOMC noted that the case for a rate hike has strengthened, but that it is waiting for " further evidence of continued progress toward its objectives" before moving ahead with a rate hike.
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