Internal Fed projection released inadvertently

Late last week Federal Reserve officials confirmed the release of internal staff interest rate projections for the rest of 2015. Normally these projections are not released for five years but they were available on a public website at the end of June. The projections indicate a 0.35% federal funds rate in the December quarter although official June forecasts from the US central bank imply two rate increases for the rest of the year. The disclosure had limited impact on the market with shorter term treasury yields falling on the day, but among broader market reductions in bond yields rates generally.