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News Back

3rd Quarter 2014 Market Review. Market sentiment has continued to be driven over the debate of the timing of the Fed’s interest rate increase sometime next year. Volatility has also been heightened with events in Russia, the Middle East, Hong Kong, and the first case of Ebola here in the U.S. The highly anticipated mid-month Fed monetary policy meeting concluded with not much changing in the language or interpretation of when the Fed might begin to raise interest rates. The Fed reiterated that it would keep rates low for a “considerable time” and Janet Yellen, in the press conference following the meeting, would not define what “considerable time” meant to avoid locking the Fed into a calendar deadline. Despite the continued insistence that the decision to raise rates would be “data dependent,” the Fed raised its median estimate for the federal funds rate to 1.375% at the end of 2015, up from the1.125% estimate at their June meeting.

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