Much was made of the Federal Open Market Committee meeting minute’s as per usual. Picking apart the statement reveals a lot of uncertainty at the Fed on raising rates. The odds of a September hike as measured by the Chicago Mercantile Exchange or CME increased from 15% to 18% after the minutes were released. Endless jawing about higher rates as has been the case for several years now despite a real lack of data to justify higher interest rates. Reminds me of the story about the boy who cried wolf.
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