The statement by Chair Yellen last week confirmed our belief since late last year that the Fed has finally started to normalize interest rates. Yellen’s announcement virtually assures a rate hike later this month.
Even though the language continues to be relatively moderate, advocating a gradual rise in rates to calm the market it should nevertheless be viewed as a ploy. Until such time that the yield curve is normalized, interest rates will be steadily going up...Read More
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