Fed Raises Rates

Last week was mixed for the markets, as the Dow increased by 0.44%, while the S&P 500 lost 0.06%, the NASDAQ dropped 0.13%, and the MSCI EAFE gave back 0.55%.  We also saw a variety of data released, giving a similarly mixed view of recent economic activity.  Retail sales and the Consumer Price Index showed modest gains, while industrial production and housing starts both declined.

The biggest headline from last week, however, was a development the market anticipated for quite some time: The Federal Reserve decided to raise its benchmark interest rates- for only the second time since 2006.

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