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(This post originally appeared in Townhall.com | Image from Townhall)
By Dan Celia
As expected, on Wednesday the Federal Reserve raised interest rates a quarter of a percent. The move appeared to firm up Chairperson Janet Yellen’s intentions of three rate hikes this year—meaning two more are coming. One of the main reasons the markets did so well after this hike was that many were expecting Yellen to lean toward four hikes this year, including this one. When that was not the indication, the markets rallied. Some of the factors she cited included inflation moving closer to the Fed’s target, the growth of the labor market, and the economy’s continuing advance. Continue reading…
