A rate hike, what else?

The Fed is about to bring to an end a 7-year period of ZIRP  The incoming policy normalisation will likely be very gradual The United States is about to experience a rare event: on 16 December the Federal Reserve will decide to raise key rates for the first time since June 2006. Although Janet Yellen, the Fed’s Chair, has done all she can to minimise its importance, this will be an historic move for several reasons. It brings to an end a 7-year period during which the cost of money was
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