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Mark Gilbert

Four Fed Rate Increases in 2016? Its Peers Say No

Traders are scaling back bets for the next U.S. rate increase.
One of them might have made a policy error.

One of them might have made a policy error.

Photographer: Bradly J. Boner

When the Federal Reserve raised its benchmark interest rate in December, the prevailing mood music was that the move probably presaged four more increases -- one per quarter -- in 2016. But with global stock markets in a tailspin and the economic backdrop deteriorating, recent comments from European Central Bank President Mario Draghi and Bank of England Governor Mark Carney suggest Janet Yellen might end the year with a monetary policy not that far from where it started.

QuickTake The Fed Lifts Off