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Fed Raises Interest Rates 0.25 Points

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Here We Go!

 

On the 7th anniversary of entering ZIRP, and for the first time since June 29th 2006, The Federal Reserve announced today that it will try and raise interest rates:

*FED RAISES INTEREST RATES 0.25 POINT IN UNANIMOUS VOTE

Of course, the flowery language and dots are as dovish as possible while maintaining some semblance of credibility with regard growth expectations as The Fed unleashes a tightening cycle for the first time in over 11 years. Pre-FOMC: S&P Futs 2050, 2Y 98bps, 10Y 2.29%, Gold $1072, Oil $36, EURUSD 1.0960

http://www.zerohedge.com/

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US dollar trades lower against its main rivals after the Federal Reserve raises its benchmark interest rate - @MarketWatch

 

The dollar weakened against its main rivals Wednesday after the Federal Reserve raised its benchmark interest rate target off the zero-bound and suggested that the pace of future rate hikes would be gradual.

The dollar fluctuated within a relatively narrow range after the announcement, finally moving higher against its main rivals by the end of Fed Chairwoman Janet Yellen’s news conference.

The relatively muted moves were attributed to the idea that the rate hike had been largely priced in.

“They did exactly what the market thought they were going to do; they didn’t catch anyone by surprise,” said John Doyle, director of markets at Tempus Inc. “It’s been almost a non-event because we’ve been pricing it in for two months.

Indeed, the Fed’s “dot plot” — a collection of official forecasts about the pace of rate hikes — suggested that the Fed will raise rates four times in 2016, in line with many market strategists’ expectations.

http://www.marketwatch.com/story/dollar-could-be-in-for-some-weakness-after-fed-decision-2015-12-16?link=MW_home_latest_news

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Hooray! Bad times are over, nothing but blue and white chemtrails ahead. You'll now be earning .0000000125 percent on your savings account and interest on credit card balances will be upwards of 30 percent.

Gold's up $12 today. heh heh

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Maybe the fact that the Fed has screwed themselves and us, they realize they can't go up or down or stay steady.  So maybe that's the big event we've all been waiting for.  Certainly was one of the ones to select from. 

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Noticed after yesterday's gains of 200 points.... and everyone was "celebrating" the feds decision to raise rates, the dow is down over 330 points today.  30 minutes until the market closes.  

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