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Fed Checks Interest Rate Box As Expected

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The Fed check the interest rate box on Wednesday raising rates as expected. This is the 5th raise since the financial crisis. They also suggested that a proposed tax cut would increase economic growth but would not significantly impact inflation.

Now the fed funds target range is 1.25%-1.5%. They also revealed that we are currently expecting 3 more bumps in 2018 and in 2019.

With this decision and remarks behind us, the Dow proceeded and Nasdaq markets charged forward while the S&P 500 was off on the day.

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