by Warren Cole Smith
Posted 3/23/15, 10:10 am
Yellen speaks. The big news last week was a two-day Federal Reserve meeting on Tuesday and Wednesday. Fed-watchers were on the lookout for a single word: “patient.” Past statements from the Fed said the central bank would be “patient” about raising interest rates. The markets interpreted that to mean as long as the word “patient” was in the statement, an interest rate hike was still off in the future. But when the Fed eliminated the word patient, it would signal interest rate hikes could come soon.