Two weeks ago we detailed the issues facing the Fed’s seeming inability to get the notion of higher rates going forward through the thick skulls of the interest rate market’s participants. Specifically, we referred to Janet Yellen’s approach at the International Monetary Fund’s meeting in Washington two weeks ago. It appears that her primary purpose was to make clear to world leaders what data she would use in determining when the US would raise interest rates. The new era of Fed transparency left the attendees in good spirits and high hopes that they were all on the same page. Until….