Core inflation highest in 3 years!  and more inflation to come with obamacare.  Gas prices have also risen so ccpi at 2.0 is very possible on Jun 17 and interest rate rise announcement also possible. Taper 2013 had 3 phases: announcement 1, announcement 2, and implementation.

see 2013:

taper announcement 1 Jun 2013          VIX 20+ 1 week after Fed meeting

taper announcement 2 Dec 2013           VIX 17 just before Fed meeting

and implemented Jan 2014                    (despite economic weakness)  VIX 20+ early Feb

http://www.cnbc.com/id/101279385

see also 2014:

Oct 2014 interest rate rise in fed minutes  VIX 20+

Dec 2014 End of QE                                        VIX 20+

Jan 2014 Month after QE ends and ECB implements QE    VIX 20+

Rate Rise 2015 announcement 1 possible Jun 17 due to:

1) ccpi near/at 2.0

2) need 6 months notice for actual rise   (announcement 1)

3) Yellen mentioned stocks overvalued at beginning of April

Monthly core inflation below…