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Finance For Dummies

Finance For Dummies offers personal finance information on investing, retirement investing, finance, insurance, credit cards, loans and more. Personal finance education is our goal.

Thursday, June 29, 2006

Fed Raises Rates

Today, the Fed raised the Fed Funds interest rate another 0.25% to 5.25%. This marks the 17th straight rate hike since December 2004 and shows how seriously the Fed and Ben Bernanke are taking inflation concerns. At one time the stock market was up over 1% this morning before the news was announced so we will now wait and sit to see how the stock market reacts in the short-to-mid-term to this news. Currently the stock market has jumped another full percentage point since the announcement.

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