Fed expects to raise funds rate 450% over next 12 months

Tightening on steroids…from .25% today, the Yellen-led Fed says they expect to raise the funds rate to 1.375 (+450%) by the end of 2015 and to 3.75% (+1400%!) by the end of 2017. See: Fed officials predict Fed funds rate to rise to 1.375% by 2015-end.

That oughta put a little crimp in some bank profits. Behold the horror of the zero bound: all moves up will feel relatively monstrous.

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