Federal Reserve Chairman Ben S. Bernanke may keep reinvesting maturing debt into Treasuries to maintain record stimulus even after making good on a pledge to complete $600 billion in bond purchases by the end of June.
In CR's timeline
for Fed rate hikes, the end of reinvestments was predicted as the second event on the road to higher rates after ending QE2. The article mentioned that the majority of polled economists predicted it'll take the Fed between 4 and 6 months for the end of reinvestments after the end of QE2.
After the end of reinvestments, the Fed will eventually change its "extended period" language in its FOMC statements. And then some time after that, we'll see rate hikes.
In short, CR predicted a rate hike no sooner than early 2012. I'm afraid nothing has changed yet that would move that sooner.