What today's Fed interest rate hike means

What today's Fed interest rate hike means
Federal Reserve chair Janet Yellen Pic: Getty

Market reaction to Trump's election signals a move away from a dependence on monetary policy

Everyone was expecting the US Federal Reserve to raise interest rates today – a move the bank had been signalling for months before the US went to the polls, and one that was set to be one of the seminal market-moving events of the year, had it not been for Trump’s election.

Changes to the rate of interest that banks charge to lend each other Federal...

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