Timing hasn’t changed, but the pace of the FED rate increase has moderated. What is consistent is that as the projections get closer in timeframe to the current period, the range of target rates converges. Thus, there is more agreement on near-term rate targets than in the out years, as might be expected.
Essentially, there is no news here even though the talking heads and financial pundits seem to make it so each quarter, pushing the market up or down.
FED has been very consistent over the past year in their quarterly projections of FED rate increase ranges. While the ranges have come down a bit, for 2015 they are still between 0.5% and 1%, 2016 in the 1.5% to 2% range, 2017 in the 3% to 3.5% range.
From one year ago, all the target rate ranged have come down about ½ percent. So in March, the target rate for 2015 is in the 0.5% range, for 2016 in the 1.55 range, and for 2017 in the 3% range.
From two years ago, the 2015 range is essentially similar at around 0.5% to 1%.