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As anticipated, the Federal Reserve Board left interest rates unchanged this week.  The next meeting is in June where there is a 12% chance that they will hike rates.  Though 12% is better than one in a million, the likelihood is still pretty small with all inflationary measures (excepting the price of homes) well under the 2.0% threshold looked to by Fed officials as the benchmark.  That run-on sentence was a mouthful, but with Lloyd Christmas on my screen I’m still feeling pretty smart by comparison.

Interest rates have been below average for almost nine years now–and about 13 years if you take away a few months in 2007.