Fed Interest Rate Decision

In a widely anticipated move, the FOMC announced on Wednesday that it was hiking interest rates by 50 basis points—the largest increase since 2000. This came as no surprise, with everyone from commentators, economists, money managers, and political pundits expecting the aforementioned half-point hike. This leaves the Fed Funds lower target (the overnight rate) at 0.75% and the discount rate …

Federal Open Market Committee

Last Wednesday, the minutes of the last Federal Open Market Committee (FOMC), held in late July, were released. After a year of some of most dovish monetary policies in the Federal Reserve’s history, members of the FOMC finally indicated they were on track to begin scaling back their gargantuan asset-purchase program later this year. The program, which was established at …