Federal Reserve officials raised interest rates by a quarter-point last Wednesday to a range of 5% to 5.25%. It was the 10th straight increase, capping the fastest series of rate increases since the
1980s and reaching a level not seen since 2007. Investors did not like the action, thinking that it was superfluous, unnecessary and bold. The S&P 500 fell 33 points registering a weekly decrease of 0.7%.
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By Hubert Marleau
By Hubert Marleau