It’s NOT The Economy, Stupid

The U.S. Federal Reserve raised interest rates once again on Wednesday. The quarter point hike by the Federal Open Market Committee marked the third time since December that the Fed has increased the target rate. And they did so despite growing signs that the U.S. economy may not only be accelerating as much as anticipated coming into the year, but is increasingly slowing. This recent determination by the Fed has raised eyebrows among many investors that are unaccustomed to such persistent hawkishness from the Fed. Surely, they cannot continue on this tightening path if the economy continues to weaken in the months ahead, right? Not necessarily.

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