CNN Money Fed underscores promise of low rates. Head of San Francisco Fed says he won't argue with views that interest rates will hold for a while.

Unusually clear comments from Fed officials Tuesday helped bolster the view that the central bank will sit tight on interest rates until the middle of next year, even as the economy gathers momentum.

Even financial markets, if you look at the futures market, don't expect much in the way of upward pressure on short-term interest rates till the middle of next year.