Will Fed’s steady march to ‘novel normal scare absent the ghosts of financial crisis? It could enjoy been worse. That was Wall Streets initial response to the decision by the US Federal Reserve to raise borrowing costs in the world’s biggest economy by a quarter of a point.
For once, the market reaction was entirely rational. The increase in interest rates was expected and it would enjoy been a real surprise had Janet Yellen and her colleagues at the US central bank decided against a move. Related: US Federal Reserve raises interest rates to 1% in tender to hold off inflation Continue reading...
Source: theguardian.com