I'm very pleased to be back in Baton Rouge. I'll start by setting the scene. The policy of a near-zero federal funds rate has been in place for more than six years. As you know, the federal funds rate is the Fed's official policy rate—the rate from which other interest rates are determined by market forces. There is much anticipation of a decision by the Federal Open Market Committee (the FOMC) to move off zero sometime this year. And the Federal Reserve has been busy with technical preparation for what's being called "liftoff." In its official communication, the FOMC has laid out a framework for making this ... (full story)