The nation's central bank Wednesday hiked short-term interest rates for the first time in nearly 10 years - finally signalling the days of free money are over. The initial rate hike was a scant 1/4 percentage point move - but that's not what's move important. The move signals the start what is likely a slow and gradual move to put rates back to normal levels.
No one is surprised by the move - 80% of traders expected the move yesterday. In fact - markets are relieved the Fed stopped threatening to move rates and just got it done. The Dow Jones industrial average is up more than 100 points to 17,631 on the news. All 10 of the major market sectors are all u...
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