Heading into the Fed's first "dovish" rate hike in nearly a decade, the consensus was two-fold: as a result of relentless telegraphing of the Fed's intentions, the hike is priced in, and it will be a "dovish" hike, with the Fed lowering its forecast for the number of hikes over the next year.

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Economic Disaster

Posted with permission and written by Rory Hall of The Daily Coin (CLICK FOR ORIGINAL)

Yesterday, in a carbon-copy response to what happened in December 2013 when the Fed announced the Tapering of QE, stocks first sold off then, as if to validate the Fed's decision as being accurate, saw a dramatic buying surge which pushed them to close just off the highs. With bonds and gold selling off while the dollar rebounded, the Fed could not have asked for - or engineered - a better reaction, while markets, as Bloomberg's Richard Breslow points out, 'chose to hear the parts of the statement and press conference that they wanted to."

Federal Reserve At End Of Monetary Road

The all important context for Federal Reserve’s interest rate decision, where the Federal Reserve raised interest rates by 0.25% for the first time in nearly a decade has been examined by the insightful Grant Williams. He is very skeptical of the Fed’s ability to continue to control markets much longer … and this is a gross understatement:

The Right's hatred of, well, almost everything, has almost ruined Christmas for many Americans. Still, it's antics are entertaining.