BlackRock's "Yellen index" says the labor market is strong enough for the Fed to end the era of zero rates now if it wanted to. But BlackRock strategists expect, instead, that Fed Chair Janet Yellen and other members of the FOMC will wait the "considerable time" they have referred to in their statement to hikes rates. That puts the first hike most likely in June. The proprietary index is made up of a series of labor and growth metrics that the Fed would be watching as it contemplates interest rates, and the index is showing improvement all fronts. "It's pretty clear today that we hit virtually every metric," ... (full story)