Janet Yellen and most members of the Fed turned hawkish Wednesday, raising interest rates and signalling another hike for 2017. This, after nine years of “we’re not sure the economy is strong enough” while the stock market climbed from its 2009 low. But, we can thank the Fed for rigging the longest bull market in US history.
Keeping rates artificially low has enabled what many see as a “market full of bubbles” just waiting to pop. These years of low interest rates resulted in historically low student loans, auto loans and mortgage rates. All at the same time as the Federal government doubled the national debt in just 8 years.