Guys, how the above can be interpreted? The way I see it, FEDs would rise the rate in October, but not quite in a small step.
E.g. maybe 1% or 2%, and then in November in December trim it down for, let's say around 0.25%, and then up for around 0.25% in January??
The FED will definitely not raise 1-2% in October and I don't think that diagram suggest that. As Armstrong says, the FED is completely powerless from now on - they lost all their credibility to do anything about the economy. Though a new QE could make some noise temporary in the markets.