White House Deese says the recalibration by the Federal Reserve is appropriate

"Recalibration". He's too scared to say interest rate hikes.

The FOMC meets this week - a lift-off rate hike is expected at the March meeting.

Previews:

• Goldman Sachs expect FOMC rate hikes in March, June, Sept and Dec but the risk is for more
• Société Générale - "Fed is likely to push back"
• Scotia expects a Federal Reserve lift-off rate hike in March
• Federal Reserve FOMC meeting this week -BoA expect on hold