More Rate Increases To Come?

More rate increases to come? Once again the Federal Open Market Committee raised the fed funds rate 25 basis points to 4.75%. This was the 15th consecutive increase since June of 2004. Although the increase was expected, the real story of interest to traders was the text statement from the meeting, which implied that "further policy firming may be needed to keep the risks to the attainment of both sustainable economic growth and price stability roughly in balance." This implies that the Fed is not finished raising rates, and traders immediately started selling-off Eurodollar and Fed Funds futures contracts. Read More....