The market's going to have a severe hangover following the next Fed rate hike

Bloomberg To no one’s surprise, the Fed decided not to hike rates last Wednesday. If emphasizing that inflation would soon reach the 2% target were not enough, the message following the two-day meeting hammered in the point that monetary authorities were ready to increase the Federal Funds rate very soon. Since the Fed has had a tendency to hike by year-end - - they did last December 16 to "maintain their credibility” - - investors took the Fed statement to mean that another increase is comi...