The Fed minutes from the March meeting revealed that all but one Fed member sees a rate hike in 2015 or later, and a majority of Fed members see the Fed Funds rate rising gradually. The policymakers’ forecasts showed that they expected the Fed’s benchmark short-term interest rate to rise to 2.25% by the end of 2016, up from their previous estimate of 1.75%. Some participants questioned whether or not the Fed was providing enough stimulus. The Fed had a special meeting on March 4th to discuss forward guidance. They voted unanimously to drop the 6.5% unemployment rate threshold because it was “outdated”. The Fed said that there are fewer headwinds and better growth this year. Some were concerned with inflation being too low. If the Fed were to take action to fight low inflation for the future it could mean QE4 and home loan rates would be the benefactor. Time will tell.