Hardly anyone called the meeting of the Federal Market Committee angry, but today's interest rate hike by a quarter of a point was pretty boring even for the central bank.
“This is a call for a yawn,” said Seema Shah, chief global strategist at Principal Asset Management. Wall Street seemed to agree as stocks were largely flat by the end of the day (although the Dow in particular posted a slight rally to record its 13th win - a long long streak for the index since 1987).
Of course, interest rates are now at their highest level in 22 years. And yes, they reached that level very quickly - in just 18 months, the Fed raised rates 11 times, from almost zero to a band of 5.25% to 5.5% in just 18 months. All this happened in many meetings.
Source: CNN
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