Market Recap: is the Fed making a mistake?
The Fed raised rates to 2.50% as was widely expected, but surprised the market (although not me!) by forecasting more rate hikes ahead. True, they are now forecasting fewer hikes than before: two next year instead of three, and still one in 2020, meaning three more in total instead of four. However that was a big surprise to those who had expected them to signal even fewer or perhaps even a pause for now. The stock market reaction tells the story: the S&P 500 ws up a bit more than 1% before…
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