First Lift Off in the History of U.S. Monetary Policy
(Editor’s Note: Art Hogan, Wunderlich Securities, Inc. Director of Research & Chief Market Strategist, offered the following commentary about the Fed’s move this week to raise interest rates.)

Art Hogan

Seven years ago, the Federal Open Market Committee made the historically unprecedented move of targeting the zero bound for the federal funds rate. Obviously, that means that today's first announced rate hike in nine years is also the first time this key benchmark interest rate has...

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