Ben Bernanke, the former Chairman of the Federal Reserve, wrote in a blog post that he believes that interest rates will not be raised anytime soon, according to CNBC.
The Fed has put out some inaccurate economic forecasts over the past few years. It expected that economic growth would be stronger, and that the unemployment rate and the level of interest rates would be higher. Because of this, they will be hesitant to forecast a rate hike.
"It has not been lost on Fed policymakers that the world looks significantly different in some ways than they thought just a few years ago, and that the degree of uncertainty about how the economy and policy will evolve may now be unusually high," Bernanke wrote in his blog post.