Bond traders have seen wrong forecasts for interest rates and the economy from the Federal Reserve for years. So, it’s little wonder they’re discounting central bankers’ talk of higher borrowing costs in 2015 as oil plunges, roiling markets worldwide and lowering the growth outlook. “The Fed believes it understands market turmoil,” Jim Vogel, a fixed-income strategist at FTN Financial, wrote yesterday in a research note. “Central banks have a lot more to learn when it comes to global financial conditions.” Fed policy makers concluded a two-day meeting in Washington today after discussing their plan to withdraw ... (full story)