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Fed Hikes Rates 75 Basis Points for Fourth Time – What Does the Historic Move Mean for You?

As expected, the Federal Reserve Board’s Federal Open Market Committee (FOMC) said in a statement on Nov. 2 that it decided to raise the target range for the federal funds rate to 3.75% to 4% and anticipates that ongoing increases in the target range will be appropriate in order to attain a stance of monetary policy that is sufficiently restrictive to return inflation to 2% over time.

This leaves the question, will rate hikes slow down in the future? Jeffrey Rosenkranz, Portfolio Manager, Shelton Capital Management, told GOBankingRates, “For the first time during this rate hike cycle, the Fed has explicitly acknowledged they will take into consideration both the cumulative effect of their policies, and the concept that it operates on a lagged basis.  While this is well-understood by economists and market participants, the new addition to FOMC language is a nod to an eventual pause.”

Read the whole article here: Fed Hikes Rates 75 Basis Points for Fourth Time — What Does the Historic Move Mean for You?

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Authors

  • Jeffrey Rosenkranz is a Portfolio Manager for the Shelton Tactical Credit Fund and the Firm’s fixed income separately managed accounts.  Jeffrey has over 23 years of experience investing in the credit markets, with an emphasis in high yield, distressed debt and special situations. Prior to joining Shelton Capital, he worked at Cedar Ridge Partners, LLC, Cooperstown Capital Management, Durham Asset Management, Ernst & Young LLP and The Delaware Bay Company. He earned an MBA from the Stern School of Business at New York University and received a B.A. from Duke University.

  • Peter Higgins

    Peter Higgins has over 25 years of experience in fixed income investing, most notably as Partner and Lead Portfolio Manager at both Ares Management and BlueBay Asset Management. Previously, Peter specialized in global leveraged finance at investment banks such as Deutsche Bank AG, Goldman Sachs & Co. and Credit Suisse in both London, England, and New York City. Peter earned a bachelor’s degree in Economics-Political Science from Columbia University.

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