Benchmark
How the Fed Convinced Markets It’ll Raise Rates This Week
Janet Yellen, Lael Brainard and crew talked markets into believing in March
Fed Raises Benchmark Lending Rate a Quarter Point
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Investors see a Federal Reserve rate increase this week as a sure bet, a major shift from the small chance they assigned to a March hike coming out of the central bank's last meeting on Feb. 1.
The change came after Fed policy makers launched an aggressive communication campaign, talking markets into the idea that rates would be climbing this month. Here's the timeline of the events that convinced monetary policy-watchers that March 15 will mark the central bank's first rate move of 2017.
Feb. 14: Yellen testifies