Last week, Janet Yellen said that The Fed was going to raise rates until our noses bleed - wait, she didn't say that.
"The committee currently anticipates that, even after employment and inflation are near mandate-consistent levels, economic conditions may, for some time, warrant keeping the target federal funds rate below levels the committee views as normal in the longer run."
From http://www.marketwatch.com/story/the-era-of-easy-money-is-not-over-2014-03-27?link=MW_latest_news
So this column points out that the stock market knee-jerk reaction to the hawkish comments may have been a little too, well , knee jerk. Of course, there are other global concerns going on at the moment, but I recommend reading the Marketwatch column for a little Fed grounding.
But keep a handkerchief nearby just in case your nose does start bleeding.
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