"If The Fool persists in his Folly he will become wise." - William Blake
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Why the Fed will no longer be the big deal when it meets next week
Like kids waiting for Santa, the one day markets have been thinking about all year is finally here. The Federal Reserve Open Market Committee on Wednesday is expected to announce an interest rate hike — its second in a year. It's also the second in 10 years, for that matter. However, the 25 basis point increase in the Fed funds target rate has become somewhat anticlimactic, not just because it's been so long anticipated but because there's a new game in town for investors. "The surprise of the Republican sweep of Congress along with the Trump administration has really changed consensus expectations almost 180 ... (full story)
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