US rate futures jump as Fed seeks exit strategy Tue Nov 22, 2005 2:14 PM ET www.reuters.com - U.S. short-term interest rate futures jumped on Tuesday after minutes from November's Federal Open Market Committee meeting suggested the central bank was looking for a way to change the wording of its statements.- -The minutes said that some Fed members worried about "risks of going too far with the tightening process."- -Dealers said the minutes supported ideas that the FOMC could pause its program of rate increases early in 2006.- -Chances of a Fed rate move in March, the meeting that recently has been most "in play" in futures, dropped to 38 percent from about 58 percent-
Mr. Market has long suspected that Fed is not serious about inflation and refused to arise the long rates. Now it seems that Mr. market is correct.