Two weeks ago, and just before Janet Yellen hinted that "nominal interest rates cannot go much below zero" (so just a little, and exactly is a "little" in Fed speak?) Goldman explained that when it comes to a rate hike, the Fed should not only not hike in December (and certainly not October), but wait until mid-2016 before the first rate hike: Q: What is your own view of the appropriate liftoff date? A: Our own answer to that question has long been 2016. In fact, our own view is similar to that of Chicago Fed President Charles Evans, who recently shifted his call from early 2016 to mid-2016. Although it is ... (full story)