U.S. T-Bill Yield 91-Day (5.10%)

I must be missing something here. Yesterday the Fed paused when I expected another hike to be added to the long string of successive Fed Funds rate increases. I'm not an economist by profession, and I don't do fundamentals, but I do know that short rates are rising relentlessly in the U.S., month after month.

If there was even a hint of easing, I could relate to the Fed pause. I'll be happy if Bernanke turns out to be right about this, but my math models continue to point to rapidly rising interest rates at the short end.