Why did the interest rate forecast for 2016 change?

Last week, I issued a "rate warning," and then the Fed surprised after its meeting -- not by standing pat, which everyone expected, but by reducing the whole slope of future rate forecasts and emphasizing overseas instability over U.S. risk of inflation. I heartily concur with the Fed’s decisions. However, here in the housing business, concerns continue. First, for rates to go lower, we’ll need more bad stuff to happen overseas -- and we may not get that soon, or bad enough ...