by Calculated Risk on 3/10/2015 07:39:00 PM

From Jon Hilsenrath at the WSJ: Fed Leans Toward Removing ‘Patient’ Promise on Rates

The Federal Reserve is strongly considering removing a barrier to raising short-term interest rates, by dropping its promise to be “patient” before acting.
...
Dropping the patience promise next week doesn’t mean officials are yet set on a rate increase in June. Ms. Yellen has signaled that the inflation backdrop is the key wildcard in the months ahead. Though the job market is improving as the Fed hoped, inflation isn’t moving back toward its 2% objective.

It seems very likely that "patient" will be removed from the statement. This will mean a June rate hike is possible, but not guaranteed.

Wednesday:
• 7:00 AM ET, the Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.

• At 10:00 AM, the Q4 Quarterly Services Report from the Census Bureau.

• At 4:30 PM, the Federal Reserve will release the Comprehensive Capital Analysis and Review Results (Stress Test)