Today’s FOMC announcement is arguably the biggest in years and despite months of data, opinions and debates, we appear no clearer on whether the Fed will actually raise interest rates or not. It’s been almost a decade since the Fed last raised interest rates and in that time, the markets have become hooked on record low interest rates and appear in denial about the need to raise them. Fed Chair Janet Yellen has given numerous warnings that they plan to raise rates this year and they have clearly fallen on deaf ears. Markets have currently priced in a less than 25% chance of a hike today, which would leave December as ... (full story)