Four Fed Rate Increases in 2016? Its Peers Say No

When the Federal Reserve raised its benchmark interest rate in December, the prevailing mood music was that the move probably presaged four more increases -- one per quarter -- in 2016. But with global stock markets in a tailspin and the economic backdrop deteriorating, recent comments from European Central Bank President Mario Draghi and Bank of England Governor Mark Carney suggest Janet Yellen might end the year with a monetary policy not that far from where it started.