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Have you noticed that the expiration of ZIRP keeps getting pushed out? Originally it was going to end in one year, then two years, then three years and now they are “guaranteeing” ZIRP to beyond 2015. This begs the question if they really don’t know how long it will last or if they are reluctant to publicly announce it?

The Fed announced earlier this week that interest rates will remain unchanged until unemployment goes below 6.5 percent and if inflation is projected to be no more than 2.5 percent. Link to the announcement:
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