The market will be especially interested in the
unemployment rate this month, because just
a 0.1% drop to 6.5% pushes the rate to the
Fed’s threshold of 6.5%.
Yellen made it clear last week that the Fed
was in no hurry to raise rates when the
unemployment rate crosses the 6.5% threshold.
In our view, the Fed is not likely to raise rates
until late 2015 or even early 2016.