"This is my quest
To follow that star
No matter how hopeless
No matter how far"
- Don Quixote, The Impossible Dream (The Quest), Man Of La Mancha, 1965
The U.S. Federal Reserve will be attempting to pull off the unprecedented in 2017. After years of zero interest rate policy (ZIRP), the Fed has managed to slowly grab two quarter point interest rate hikes since the end of 2014 to lift interest rates off of the zero bound. And expectations for the coming year have the Fed raising interest rates two to three more times. Expectations are one thing - remember the four rate hikes we were supposed to see in 2016? But whether the Fed will be able to meet these expectations is another, as such a feat is unprecedented. Given the important global market implications of Fed policy, it is also worthwhile to consider exactly when over the… Read More …