The performance of the US dollar significantly diverged from relative rate spreads.
Investors are beginning to gravitate to global real assets—real estate, infrastructure, transport and natural resources
David Kelly, the Fed, interest rates
The first rate rise in a decade was widely expected by markets.
Markets, economy, stocks, growth, global, fixed income, international, asset classes
As expected, the Federal Reserve raised its target for the federal funds rate to a range of 2.00%-2.25%. The language in its statement and its economic projections was slightly more hawkish than in its June meeting.
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At the latest Monetary Policy Committee (MPC) press conference, Governor Carney noted that businesses are taking a very cautious approach right now because of the uncertainty around the outcome of the ongoing Brexit negotiations.