About Paul D. McNelisPaul D. McNelis is Robert Bendheim Chair, Department of Finance, Gabelli School of Business, Fordham University.
By Paul D. McNelis. Posted March 3, 2017
The Federal Open Market Committee, the official policy making body of the Board of Governors of the Federal Reserve System (Fed), announced the long-awaited increase, or liftoff, in the federal funds rate of 0.25% just over a year ago in December 2015. This action represented the beginning of a “return to normalcy” from the period since 2008 when the Federal Reserve had been operating at the zero lower bound. With the liftoff already 1 year behind us, market watchers widely expect continued, even abrupt, increases in United States (US) interest rates in the coming year. Read more.
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