http://www.reuters.com/article/2013/06/19/usa-fed-idUSL2N0EV0ZT20130619?feedType=RSS&feedName=bondsNews

RATE RISE NOT SEEN UNTIL 2015
The Fed has held overnight interest rates near zero since
December 2008 while more than tripling its balance sheet to
around $3.3 trillion with its bond buying.
It repeated on Wednesday that it would not raise rates until
unemployment hits 6.5 percent or lower, provided that the
outlook for inflation stays under 2.5 percent.
Bernanke made clear that threshold was merely for
considering a rate hike, not a trigger for necessarily making
one. In fresh quarterly projections, 14 of the 19 members of the
Fed's policy panel said they did not think it would be
appropriate to raise rates until some time in 2015.
In a sharp downgrade, the Fed forecast the PCE price index,
its preferred gauge of the price pressures facing consumers,
would rise just 0.8 to 1.2 percent this year. However, it saw
inflation heading back to 1.4 to 2.0 percent in 2014 and 1.6 to
2.0 percent in 2015.
A low inflation rate could allow the Fed to keep rates lower
for longer and could even force additional monetary easing if it
persists or falls further.
In a slight upgrade to their projections, officials forecast
unemployment to average 6.5 to 6.8 percent in the fourth quarter
of next year, and 5.8 to 6.2 percent in the final three months
of 2015.