Fed Checks Interest Rate Box As Expected
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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