The Fed raised rates 25 basis points again this afternoon. Hardly unexpected, this move was widely expected.
Fed Raises Target Rate to 4%, Keeps `Measured’ Plan
The Fed statement was much of the same. Nothing new, but then again, much of what we all expected to hear. Doesn’t look like the rate increases will stop anytime soon. I am beginning to believe we’ll see rate increases into the first few months of Bernankes term as well.
Notable:
The Federal Open Market Committee voted unanimously to lift the overnight bank lending rate a quarter-point to 4 percent
Caveat Emptor,
Grim