There's been plenty of news to discuss lately concerning the US economy/financial markets, but perhaps the most important bit of insight comes from Nobel Laureate Paul Krugman. The famous economist does not believe the Fed will raise rates in 2015. Coming from Krugman, who's economic predictions have been about as accurate as possible the past several years, it's a big deal. Given the recent string of strong US economic reports, along with the extreme plunge in crude oil prices, it's certainly no simple matter to assume rates won't go up in the next year. However, Krugman doesn't think the Fed will risk raising rates too soon. Essentially, raising rates too early is a much bigger problem to fix than raising them too late. History shows us that controlling inflation is much more straightforward than reversing deflation or breaking out of a recession. Given the price of short and medium-term Treasury bonds, the bond market agrees with Krugman. By the way, the next Fed meeting is this week. (VIEW LINK)